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Article: Akzo Nobel wins EU approval to buy ICI after agreeing to sell off some units
- Article from:
- AP Worldstream
- Article date:
- December 14, 2007
CopyrightCopyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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Akzo Nobel NV on Friday won EU approval for its 11.8 billion (US$17.1 billion) acquisition of Imperial Chemicals Industries PLC, but it must sell off Britain's Crown Paints and an adhesive business to clear antitrust concerns.
The European Commission said it had identified "serious competition concerns" with the control the deal would originally have given the company over the paint business in Britain, Ireland and Belgium, as well as on the entire European market for industrial glue for artificial ...