EU approves EQT's SABIC acquisition
The European Commission has approved EQUITA's acquisition of SABIC's European petrochemicals business, with no concerns regarding competition due to the limited market size. This deal is part of SABIC's plan to sell its European assets, totaling $950 million, which also includes the sale of its engineered thermoplastic elastomer operations in the Americas and Europe. The transaction forms part of Equita's expansion strategy in the European market and confirms SABIC's ongoing efforts to restructure its operations in the sector.
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