The European Commission has approved the purchase offer for BorsodChem Nyrt (Kazincbarcika / Hungary; www.borsodchem.hu) made by First Chemical Holding Kft, a bidding company appointed by the Kikkolux Group – see Plasteurope.com Web of 19.07.2006 –, which is owned by Europe´s largest private equity fund Permira IV (Frankfurt / Germany; www.permira.com) and Vienna Capital Partners (VCP), a second private equity group. The offer price of HUF 3,000 (EUR 11.7) per share values BorsodChem at EUR 850m. The deal has been cleared by the EC without conditions and Permira says it will acquire VCP´s existing 21.8% stake in BorsodChem when the acceptance period for the offer has expired. BorsodChem´s product portfolio includes "Ongrovil" PVC resins, "Ongromat" MDI and TDI products, "Ongro" chlorinated polyethylene and chemicals including caustic soda and hydrochloric acid.