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Sika will divest MBCC assets to Cinven, after UK competition concerns over Ineos deal

( March 22, 2023, 17:34 GMT | Official Statement) -- MLex Summary: Sika will now divest MBCC’s admixtures businesses in the UK, the EU, the US, Canada, Australia and New Zealand to private equity firm Cinven, after the British antitrust watchdog provisionally rejected the original proposed purchaser — Ineos — due to competition concerns. Sika has promised to sell off the assets to win merger approvals around the world. It said the Competition and Markets Authority has already approved Cinven as a “suitable buyer” of the operations, and the acquisition of MBCC remains on track to close in the first half of the year.Statement follows....

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