Commission clears acquisition of HIPP by NIS

The European Commission has approved, under the EU Merger Regulation, the acquisition of HIP-Petrohemija LLC Pancevo (‘HIPP’) by Naftna Industrija Srbije a.d. Novi Sad (‘NIS’), both of Serbia. HIPP is a petrochemical company active in the production and distribution of products such as ethylene, polyethylene and synthetic rubber. NIS is a vertically integrated energy company.

The Commission concluded that the proposed acquisition would raise no competition concerns given the companies’ moderate combined market positions resulting from the proposed transaction. The operation was examined under the simplified merger review procedure.