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U.S. sues to stop merger of hydrogen peroxide makers Evonik and PeroxyChem

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The U.S. Federal Trade Commission said on Friday it was suing to stop Evonik Ind...

FILE PHOTO: The logo of German specialty chemical company Evonik Industries AG is pictured at their plant in Bitterfeld, Germany, February 29, 2016. REUTERS/Fabrizio Bensch

The $625 million sale by group One Equity Partners, announced in November, is aimed at giving Evonik above-average growth rates of around 6% in the hydrogen peroxide and peracetic acid markets.“It is disappointing that the FTC has taken this step to block the acquisition in the highly competitive hydrogen peroxide industry,” said Christian Kullmann, chairman of the executive board of Evonik, in a statement. “We remain optimistic that we will prevail at trial and complete the acquisition.

 

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