Commission clears joint venture between Celanese AG and Degussa AG

The European Commission has granted clearance to a proposed joint venture between German chemical producers Celanese AG and Degussa AG in the market for OXO chemicals following a detailed Phase II investigation. In a statement, the European Commission said: "...an in-depth analysis showed that competitors would be able to keep in check any attempt by the venture to raise prices, especially in view of the spare capacity in the sector". Clearance was therefore not conditional on any remedies or undertakings. Frontier advised both parties throughout the process. The EU's press release about the decision can be read here.