UK rubber-maker Yule Catto said Thursday it received final clearance to conclude its GBP376 million ($613 million) purchase of German latex maker Polymer Latex.
The company received clearance from the Spanish competition commission to proceed with the purchase, which it expects to be concluded in March, a Yule Catto spokesman told Platts Thursday.
Yule Catto, which will finance the deal with a share sale, is buying Polymer Latex as a means of expanding its styrene-butadiene rubber and emulsion polymers businesses.
The transaction required clearance from German and Spanish competition authorities. German clearance was already obtained on February 15, the spokesman said.
