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BRUSSELS, March 13 (Reuters) – Czech group Agrofert, owned by Czech ex-premier and now opposition leader Andrej Babis, gained unconditional EU antitrust approval on Monday to buy Austrian energy group OMV (OMVV.VI) unit Borealis’ nitrogen business.
Borealis announced the deal last year to sell the business, which includes fertiliser, melamine and technical nitrogen, on the basis of an enterprise value of 810 million euros ($869 million).
The European Commission said the deal would not raise any competition concerns in Europe. Reuters had reported on March 10 that Agrofert was set to secure the EU green light without requiring to offering concessions.
“The transaction would not significantly reduce competition in markets for nitrogen fertilisers, AdBlue non-toxic liquid used as exhaust fluid for diesel engines and technical nitrogen products such as aqueous ammonia and weak nitric acid,” the EU competition enforcer said in a statement.
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It said the deal would also not raise concerns in the distribution of nitrogen fertilisers in the Czech Republic and Slovakia.
($1 = 0.9325 euros)
Reporting by Foo Yun Chee
Our Standards: The Thomson Reuters Trust Principles.
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