BRUSSELS, July 8 (Reuters) - European Union antitrust regulators approved on Wednesday the joint takeover by British oil major BP Plc BP.L and U.S. chemicals maker DuPont DD.N of U.S. company Biobutanol LLC.
The European Commission, which monitors mergers and takeovers in the 27-country European Union, said in a statement that the deal created no competition concerns.
“The proposed transaction would not give rise to horizontal overlaps between the activities of the parent companies as they are currently not active in the licensing of any production technologies for butanol or in the supply of butanol,” it said.
The proposed joint venture will develop and commercialise production technologies for biobutanol, a fuel component made from biomass. Biobutanol LLC develops and licenses technology related to the commercial production of biobutanol.
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