European Commission approves Carlyle Group's acquisition of Akzo Nobel's specialty chemicals business

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European Commission approves Carlyle Group's acquisition of Akzo Nobel's specialty chemicals business

August 29, 2018 - 02:50
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BRUSSELS, Aug. 28, 2018 (Press Release) -The European Commission has approved under the EU Merger Regulation the acquisition of sole control over the Specialty Chemicals Business of Akzo Nobel ("Akzo Nobel SC") of the Netherlands by the Carlyle Group of the US. Akzo Nobel SC is the specialty chemicals business of Akzo Nobel, which has been separated from Akzo Nobel's paint and coating business. Carlyle is a global alternative asset manager. The Commission concluded that the proposed transaction would raise no competition concerns given the minor horizontal and vertical overlaps between the Parties' activities. The transaction was examined under the simplified merger review procedure.