EU Clears Agrofert's Acquisition of Borealis Nitrogen Business
March 13 2023 - 12:33PM
Dow Jones News
By Adria Calatayud
The European Union said Monday that it has approved Agrofert
Group's acquisition of Borealis AG's nitrogen business after
concluding that the deal wouldn't raise competition concerns.
The European Commission, the EU's executive arm, said its market
investigation looked into the overlap between the companies'
operations in the markets for nitrogen fertilizers, technical
nitrogen products and fuel additive AdBlue, as well as the links
between Borealis's nitrogen business and Agrofert as a retailer in
the Czech Republic and Slovakia.
Agrofert is a Czech conglomerate, while Austrian chemical and
fertilizer company Borealis is 75%-owned by OMV AG with the
remaining 25% held by Abu Dhabi National Oil Co.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
March 13, 2023 12:18 ET (16:18 GMT)
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