European Commission Approves Takeover of HIP Petrohemija by NIS

Source: Beta Wednesday, 21.09.2022. 09:31
(Photo: Patrick Hendry/Unsplash)
The European Commission (EC) has approved to Naftna Industrija Srbije (NIS) the acquisition of HIP Petrohemija Pancevo, they announced from Brussels.

The EC has concluded that the acquisition “would not cause concern in the market regarding competition”.

– The Commission has concluded that the proposed acquisition would not cause concern in the market when it comes to competition, considering the moderate combined market position of the companies which is the result of the proposed transaction – says the statement by the EC.

It is added that the petrochemical company is active in the production and distribution of products such as ethylene, polyethylene and synthetic rubber, whereas NIS is “a vertically integrated energy company”.

The EC added that the procedure had been examined within the simplified merger review procedure.

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