London (United Kingdom): British chemical company Ineos is in the process of reaching an agreement to purchase certain assets being sold off by Sika AG (SIKA.S) as a way to satisfy antitrust laws. During December 2020, Sika and MBCC Group from Germany received the go-ahead from regulators in the United Kingdom for their 4.5 billion pound ($ 5.50 billion) fusion – but only on the condition that part of their business would be divested in order to address competition worries.
Reports suggest that a deal valuing Sika AG's admixture business at a staggering $750 million could be made public as soon as Monday, with Ineos emerging victorious over several other private equity firms including Cinven, CVC Capital Partners and Clayton, Dubilier & Rice (CD&R).
