Sika to sell admixture assets to Cinven
March 22 (Reuters) -Swiss chemicals company Sika AG SIKA.S will sell parts of MBCC Group's chemical admixtures assets to private equity group Cinven, it said on Wednesday, after Britain's competition watchdog raised concerns over its sale of the business to INEOS.
Sika in January agreed to sell the business to UK-based INEOS to clear the way for its 5.5 billion Swiss franc ($5.95 billion) acquisition of the former BASF Construction Chemicals business (MBCC).
Sika said that the British Competition and Markets Authority has approved Cinven as a suitable buyer for the assets.
($1 = 0.9236 Swiss francs)
Reporting by Anirudh Saligrama in Bengaluru
Editing by David Goodman
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