A PYMNTS Company

EU: Commission to clear Shell unit buyout, says source

 |  August 29, 2013

The European Commission will reportedly clear Sweden-based refiner Nynas to acquire a unit of Royal Dutch Shell, said a source.

Following an investigation into the buyout of Shell’s Harburg, Germany refinery, over concerns the new company would be Europe’s only producer of a certain kind of oil within Europe.

The oils, naphthenic base oils, are used in metalworking fluids and industrial grease, among other products.

The source said, however, that the Commission will clear the deal without concessions.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.