The European Commission has cleared the $703 million purchase of Dutch polyvinyl chloride maker Wavin by Mexican producer Mexichem.
A commission investigation found that the proposed transaction would not raise competition concerns because the merged entity would continue to face sufficient competition, the EC said on its web site Tuesday.
The transaction was notified to the Commission on April 23 this year.
Mexichem, primarily active in Latin America, is specialized in the development, production and global marketing of PVC and plasticizers as well as the production and supply of some intermediates. The company also produces PVC pipe systems, joints and plastic accessories for fluid conduction, primarily water, and others like electricity and natural gas.
Wavin is a Europe-focused company specialized in the manufacture and supply of pipe systems from various materials. Wavin produces and sells pipe systems and solutions for gas, water, sewage, drainage, cable ducting and other construction purposes, together with the fittings for such systems.
