Abstract
The British chemical giant Ineos has signed a deal to acquire MBCC’s concrete additives business for an undisclosed sum. The business, which has about $1 billion in annual sales of chemicals that enhance the properties of concrete, employs more than 1,600 people across 35 sites around the world. The acquisition will provide Ineos with “well invested and well positioned sites” that present new opportunities for growth, Ashley Reed, CEO of Ineos Enterprises, says in a statement. Ineos hopes to secure regulatory approval for the deal in the first half of this year. MBCC was not originally looking to sell the business. The deal “forms part of a required remedy process” to ensure that regulators approve the purchase of MBCC by the Swiss construction chemical firm Sika, the law firm Slaughter and May, an adviser to Ineos, states in a press release. UK regulatory authorities halted Sika’s purchase of MBCC in
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