EU will approve Nynas's Royal Dutch Shell deal - source

By Rizza Sta. Ana

Aug 29, 2013 12:24 PM EDT

A source told Reuters Thursday that Sweden-based Nynas would definitely get the European Union (EU) Commission's approval for its plan to acquire several units of Royal Dutch Shell's refinery located in Hamburg. 

The oil refiner earlier announced its 100,000 barrels per day (BPD) deal in 2011. EU decided to do a detailed investigation to determine whether Nyna's deal with Royal Dutch Shell would break antitrust laws and would solely produce naphthenic oils for the European market. Naphthenic oils are the basic materials to products like metalworking fluids, anhesives, and ink, among others. Both companies are awaiting regulatory approval from EU.

Nynas was founded as a national oil company in Sweden and is known for its specialty in naphthenic oil and asphalt products.  Royal Dutch Shell is a UK-Dutch multinational company with headquarters in the Netherlands and delves in the business of oil and gas.

EU Commission spokesman for competition policy Anthony Colombani declined to provide a few words regarding the matter.

Both Royal Dutch and Nynas will learn of EU Commission's verdict on whether the deal would be approved on Septemeber 6.  

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