The European Commission (EC) said in January that it had been notified of the deal and invited “interested third parties” to submit observations.
The latest news from the EC said clearance for the acquisition was given on February 19.
Switzerland-based Glencore International AG is one of the world’s largest suppliers of commodities and raw materials to industrial consumers.
Its wholly owned subsidiary Singfuel said in December that was taking a controlling stake in the leading independent bunker supplier
Glencore acquired 656.75 million shares in Chemoil for $233.3 million, giving it a 50.81% stake in the company.
Competition Authorities Approve Chemoil Deal
02.23.2010 - NEWS
February 22, 2010 [Bunkerworld] - European competition authorities have given their clearance to Glencore's move to take a controlling stake in Chemoil.
