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INEOS / SINOPEC / ETHYLENE JV
M.11010
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Disclaimer :
The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.
SECTION 1.2
Description of the concentration
This notification relates to the acquisition of joint control by INEOS AG (“INEOS”) and China Petroleum and Chemical Corporation (“Sinopec”) a joint venture to be established in the People’s Republic of China, INEOS Sinopec Tianjin Petrochemicals Limited (the“Joint Venture”). Under the proposed transaction, Sinopec and INEOS will each acquire a 50% equity interest in the Joint Venture.
INEOS is a privately owned conglomerate that produces a range of chemicals including petrochemicals, specialty chemicals and oil products. Sinopec is a petroleum and petrochemical group headquartered in Beijing.
The Joint Venture will be active in the supply of ethylene and certain of its derivatives in the People’s Republic of China
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.