June 22, 2017 / 11:57 AM / 3 years ago

EU approves Evonik's purchase of Huber Silica with conditions

The EVONIK Industries logo is pictured in Frankfurt, Germany, April 20, 2017. REUTERS/Ralph Orlowski

BRUSSELS (Reuters) - EU antitrust regulators said on Thursday that they had cleared German chemical company Evonik’s (EVKn.DE) planned $630 million purchase of U.S. company Huber Corp’s [CPKEL.UL] silica business.

The Commission, which oversees competition policy in the 28-nation European Union, expressed concern earlier on over the relatively high market share the merged entity would have in precipitated silica, used in tires, toothpaste, defoamers, paints and coatings.

The companies have offered to divest Evonik’s precipitated silica business for dental applications in Europe, Middle East and Africa and Huber Silica’s precipitated silica business for defoamer applications and its hydrophobic precipitated silica business in Europe.

The Commission said that the merger, as modified by the commitments, would no longer raise competition concerns.

Reporting by Philip Blenkinsop

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