U.K. OFT Retracts Comment on Birla Buy Out of Columbian Chemical
Britain’s antitrust regulator retracted a statement that said it wanted the European Union to investigate Aditya Birla Group’s proposed $875 million purchase of Columbian Chemicals Co., the carbon black manufacturer owned by JPMorgan Chase & Co. (JPM) buyout unit One Equity Partners LLC.
The U.K. Office of Fair Trading said the statement today was “released in error and should be disregarded.” The statement said the agency had sought referral of the deal to the European Commission in Brussels. Mumbai-based Aditya Birla announced the acquisition on Jan. 31, saying it would help the company become the world’s largest maker of the product.
To contact the reporter on this story: Erik Larson in New York at email@example.com
To contact the editor responsible for this story: Christopher Scinta at firstname.lastname@example.org