London — The European Commission has approved theplanned Eur6.4 billion ($9.2 billion) styrenics joint venturebetween German chemicals group BASF and UK peer Ineos,the companies said in a joint statement Wednesday. The EU,however, requires the pair to sell an acrylonitrile butadienestyrene (ABS) plant in Tarragona, Spain, as part of theapproval, it said. The 50:50 joint venture, called Styrolution,will combine the pair's ABS, styrene monomer, polystyrene,styrene-butadiene block copolymer and other styrene-basedcopolymer businesses. These businesses had combined salesof around Eur6.4 billion in 2010.
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