A PYMNTS Company

Mexico: Chemicals group Mexichem nabs EU peer

 |  November 16, 2014

Mexico-based chemical maker Mexichem announced Friday that it has secured all necessary regulatory approval to move forward with its takeover of an EU peer.

According to reports, Mexichem expects to finalize its purchase of Germany-based Vestolit by December 1 of this year. The German firm is the EU’s sole manufacturer of window HIS-PVC and its second-largest producer of PVC paste, reports say.

Mexichem, which says the takeover will boost its presence across Europe, said it plans to merge Vestolit under its chlorine-vinyl operations. The companies did not disclose financial details of the deal.

Full content: Businesswire

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