News from Notch Consulting, Inc.

July 21, 2011

EC approves Evonik carbon black acquisition

Filed under: Carbon Black — Notch @ 12:53 am

The European Commission has cleared the acquisition of German chemical company Evonik’s carbon black business under the EU Merger Regulation. The approval the EU Merger Regulation means that the deal is not considered one that will significantly alter the structure of the carbon black market or significantly impede effective competition in the European Economic Area. “The transaction would not significantly alter the structure of the market for carbon black as neither Rhone Capital nor Triton has any ownership interests in any business that manufactures or sells carbon black,” the Commission said in a statement. The sale to Rhône Capital was announced in April 2011.

Tyrepress notes that one of the acquiring companies, Triton, has an interest in a supplier of carbon black oil, but that did not change the Commission’s findings.

As one of the investment funds run by Triton controls Rütgers, a supplier of carbon black oil (which is the chemical intermediary product used to produce carbon black), the Commission also investigated the vertical relationship arising from the proposed transaction. The investigation confirmed that the transaction “will neither result in the shutting out of competing carbon black producers as there are many alternative suppliers of carbon black oil on the market, nor in the shutting out of other suppliers of carbon black oil as there are sufficient alternative outlets for their carbon black oil production.”

Triton bought coal tar company Rutgers Chemicals from Evonik Industries in 2007.

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