Ineos Oxide, a divion of Ineos (Rolle, Switzerland; www.ineos.com) and Arkema (Colombes, France; www.arkema.com) announced a project for Ineos to acquire Arkema’s Oxo Alcohol business, which will include the acquisition of Arkema’s stake in Oxochimie, a Joint Venture at Lavéra between Ineos and Arkema, producing oxo alcohols (butanol and 2-ethyl hexanol).
Graham Beesley, CEO Ineos Oxide said, “Oxo alcohols are a core business for Ineos Oxide, both supplying the European and global markets and supporting the manufacturing of our fast growing downstream intermediates businesses. We look forward to integrating the Oxochimie joint venture and growing our global market presence in oxo alcohols, aldehydes & derivatives.”
The proposed transaction is subject to the normal consultation process involving the work councils. A competition clearance from the European Commission will also be required. Until such steps are completed and the proposed transaction is finalised the two businesses will remain fully independent. The Parties do not foresee any material issue with receiving the competition clearance and look forward to a completion date as soon as possible.
Oxochimie is a joint venture between Ineos and Arkema at Lavéra, France and is not part of the INEOS Group Holdings SA group. Oxochimie produces butanols, 2-ethyl hexanol and oxoaldehydes on behalf of its parent companies that Arkema and Ineos market independently.