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EU: Chemical joint venture submits revised offer to Commission

 |  October 15, 2013

Two major polyvinyl chloride makers looking to the European Commission for clearance of their joint venture have submitted concessions to the regulator, say reports.

Details on the concessions offered by Ineos Group Holdings and Solvay to gain approval of their $5.8 billion PVC joint venture were not disclosed, but a source says they may include the sale of a PVC plant in Germany.

Meanwhile, the Commission extended the review deadline of the deal to November 5, according to its website.

The two companies announced their partnership plans last May as a method to cut costs in a struggling market where demand is down within Europe.

Full Content: Bloomberg

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