British chemical firm Ineos is nearing a deal to buy assets being sold by Sika AG to appease antitrust regulators, Bloomberg News reported on Sunday, citing people familiar with the matter.
received
UK regulatory approval for their 4.5 billion pound merger on the condition they sell a part of the business to address competition concerns. The deal values the Swiss chemical firm's admixture business at $750 million and could be announced as soon as Monday, the report said. Ineos, which declined to comment, beat private equity firms including Cinven, CVC Capital Partners and Clayton, Dubilier & Rice , Bloomberg said.
Sika also declined to comment. Cinven, CVC Capital Partners and Clayton, Dubilier & Rice did not immediately respond to Reuters' requests for comment.Our Standards:
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British chemical firm Ineos nears deal to buy Sika assets - Bloomberg NewsBritish chemical firm Ineos is nearing a deal to buy assets being sold by Sika AG to appease antitrust regulators, Bloomberg News reported on Sunday, citing people familiar with the matter.
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