The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Neste Oyj of Finland and Ravago S.A. of Luxembourg. The joint venture will be active in the production and sale of liquefied waste plastic.
Neste is active in oil refining and commercialisation.
Ravago is active in the distribution of plastics, rubber, and chemicals and in the production of recycled/compounded polymers.
The Commission concluded that the proposed acquisition would raise no competition concerns, given that the newly created joint venture will have limited foreseen activities within the European Economic Area. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.10474.