After the competition authorities cleared the takeover, Ineos (Rolle / Switzerland; www.ineos.com) on 13 November announced that it had completed its takeover of BASF’s (Ludwigshafen / Germany; www.basf.com) 50% stake in their common Styrolution (Frankfurt / Germany; www.styrolution.com) joint venture – for previous coverage, see Plasteurope.com of 30.06.2014.

The Rolle-based company paid EUR 1.1 bn for the shares in the jv, first established in 2011. Ineos already had reserved a call option in the original shareholders’ agreement. Styrolution will operate as a stand-alone business within Ineos Industries Holdings.

Ineos chairman Jim Ratcliffe said the acquisition “represents another important step in the growth of the Styrolution business as it competes effectively with large-scale producers from Asia and the Middle East.”