Retail Industry
Industry: Email Alert RSS FeedEUROPEAN COMMISION BLOCKS LENZING, ACORDIS MERGER.
Daily News Record, October, 2001 by FALLON, JAMES
LONDON -- The European Commission has blocked the proposed acquisition of a majority of fiber manufacturer Lenzing AG, by CVC Capital Partners, ruling the deal would be anticompetitive and prompt a new structure for its Acordis unit.
CVC acquired about 80 percent of Lenzing in February from Bank Austria for an undisclosed sum. The deal was subject to regulatory approval and the EC began a detailed probe of the agreement in June. CVC planned to merge Lenzing with the other fiber company, Acordis, in which it holds a 64 percent stake, into a company provisionally called NewCo. The merger would have created the world's only manufacturer of lyocell and the largest producer of rayon.
But the commission last week prohibited the deal. "The combination of...
Most Recent Reference Articles
- ARAB EUROPEAN RELATIONS - Dec 22 - Russia Denies Selling Missile System To Iran
- EGYPT - Dec 29 - Opposition Says Mubarak Blessed Israeli Attacks
- ARAB AFFAIRS - Dec 22 - Syria Will Eventually Move To Direct Talks With Israel
- ARAB AFFAIRS - Dec 30 - GCC Denounces Massacre
- ARAB ISRAELI RELATIONS - Israel Issues An Appeal To Palestinians In Gaza
Most Recent Reference Publications
Most Popular Reference Articles
- How Tyler Perry rose from homelessness to a $5 million mansion
- 9 questions to ask your new lover: what you were afraid to ask, but always wanted to know
- Free Sex Change? Move To Idaho - Brief Article
- Vickie Winans: at home with the gospel star who lost 75 pounds and reenergized her career
- BEST HAIR SALONS in DALLAS, The
