Friday, March 28, 2008

EU set deadline to conclude enquiry for Carmel Olefins, Domo Chemicals JV

The European Commission is in the process of inquiring into Israeli petrochemical maker Carmel Olefins Ltd's proposed acquisition of a 49% stake in Domo Polypropylene. Domo Polypropylene is a subsidiary of Domo Chemicals NV. The date for conclusion of the enquiry is set for April 29. Upon the necessary approval, the stake acquisition will be concluded, after which Domo Polypropylene will become a joint venture.

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