EU antitrust regulators OK bid by Japan’s DIC to buy BASF unit

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EU antitrust regulators approved on Monday DIC Corp’s bid for German chemicals group BASF’s pigments unit after the Japanese printing ink maker pledged to sell a U.S. facility to address competition concerns.

DIC announced the deal last year, paying 985 million euros for the business and taking on the unit’s net debt, which accounts for the rest of the agreed sale price of 1.15 billion euros ($1.4 billion).

The European Commission said DIC agreed to sell its main manufacturing facility for pigments in South Carolina operated by its subsidiary Sun Chemical to allay concerns that the deal would reduce competition for the supply of certain pigments.

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