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EC nod for Ineos Nova acquisition
25 February 2011: The European Commission (EC) has approved the full acquisition of Ineos Nova by Ineos.
The said approval means that Ineos can now proceed to buyout former partner Nova Chemicals from the joint venture to become the sole owner.
Ineos is a global manufacturer of petrochemicals, specialty chemicals and oil products. Ineos Nova produces styrene monomer, polystyrene and expanded polystyrene, together with certain minor related products.
The operation was examined under the simplified merger review procedure.
Source: Foodproductuiondaily