Following approval by the European Commission and the United States Federal Trade Commission, Solvay has completed its acquisition of Ausimont, the fluorinated specialties group, from Edison and Longside International.
The Federal Trade Commission and the European Commission negotiated a consent agreement with Solvay SA to resolve competitive concerns stemming from Solvay’s proposed $1.3 billion acquisition.
The settlement requires Solvay to divest Ausimont’s persalts businesses in Bussi in Italy, which include a 50% shareholding in MedAvox, a joint venture with Degussa, as well as Ausimont’s hydrogen peroxide activities in Bussi, on which MedAvox depends for the supply of feedstock.
In addition, the company must also divest Solvay’s polyvinylidene fluoride (PVDF) activities in Decatur, Alabama, which include a 50% shareholding in Alventia, a joint venture with Dyneon that manufactures VF2 – a building block of PVDF.
Without the divestiture, the FTC said that Solvay’s proposed acquisition of Ausimont would lessen competition in two markets: PVDF and melt-processible PVDF.