The European Commission Tuesday cleared U.K. chemicals company Ineos Group Ltd. to buy U.K. oil company BP PLC's (BP) vinyl acetate monomer and ethyl acetate businesses.
The assets being sold include the VAM and EtAc production facilities at Saltend, along with the Teeside to Saltend Ethylene Pipeline and the Saltend Ethylene Reception Facility, all in the U.K.
Ineos employs about 15,000 people and has annual sales of around $45 billion.