(Reuters) – British chemical company Ineos is selling assets Sika is selling to appease antitrust regulators, Bloomberg News reported on Monday, citing people familiar with the matter. is nearing a deal to acquire
In December, Sika and MBCC Group received approval from the UK competition watchdog for a £4.5 billion ($5.5 billion) merger, with the condition that they sell some of their businesses to address competition concerns. I was.
The deal, which values the Swiss chemical company’s admixture business at $750 million, could be announced on Monday, the report said.
Ineos, which declined to comment for the report, beat out private equity firms including Cinven, CVC Capital Partners and Clayton Duvilliers & Rice (CD&R), Bloomberg reported. ($1 = £0.8179) (Reporting by Shubhendu Deshmukh of her in Bangalore; Editing by Christina Fincher)