On 11th October, the European Commission (“EC”) conditionally cleared the anticipated acquisition by Celanese Corporation of the majority of DuPont’s Mobility & Materials business at Phase I, subject to the divestment of Celanese’s global thermoplastic copolyester (“TPC”) business. Aside from TPC, the Parties overlap in the production and sale of high-performance engineering plastics including polyamides (“PA” or “nylons”) and polyesters (polybutylene terephthalate or “PBT”, and polyethylene terephthalate or “PET”). The EC found no competition concerns arising from the transaction as modified by the commitments.
A CRA team including Muath Masri, Saul Mendelsohn, Areen Dakessian, Mariam Arutyunyan and Caspar Mueller worked alongside Cristina Caffarra to provide economic support to the Parties and their legal counsel.
Additional details are available on the EC’s website. The merger has also been notified in Brazil, China, South Korea, Turkey, Mexico and the US.