FTC requires divestiture in Carlyle Partners' proposed acquisition of INEOS's sodium silicate businesses | Practical Law

FTC requires divestiture in Carlyle Partners' proposed acquisition of INEOS's sodium silicate businesses | Practical Law

On 30 June 2008, the US Federal Trade Commission (FTC) announced that it had challenged the proposed US$292 million acquisition of the global sodium silicate and silicas business of INEOS Group Limited (INEOS) by Carlyle Partners IV, L.P. (Carlyle) on the grounds that it would substantially lessen competition in the market for the manufacture, marketing, and sale of sodium silicate in violation of the US federal antitrust laws. Carlyle must sell a sodium silicate plant owned by its portfolio company, PQ Corporation, in order to proceed with the proposed acquisition.

FTC requires divestiture in Carlyle Partners' proposed acquisition of INEOS's sodium silicate businesses

by Practical Law
Law stated as at 30 Jun 2008 • USA (National/Federal)
On 30 June 2008, the US Federal Trade Commission (FTC) announced that it had challenged the proposed US$292 million acquisition of the global sodium silicate and silicas business of INEOS Group Limited (INEOS) by Carlyle Partners IV, L.P. (Carlyle) on the grounds that it would substantially lessen competition in the market for the manufacture, marketing, and sale of sodium silicate in violation of the US federal antitrust laws. Carlyle must sell a sodium silicate plant owned by its portfolio company, PQ Corporation, in order to proceed with the proposed acquisition.