Celanese working with EC on closing joint venture with Blackstone
Celanese Corporation issued the following statement: "Celanese Corporation continues to work cooperatively with the European Commission toward a successful close of the ongoing merger review process of its proposed Joint Venture with Blackstone to form a new acetate tow supplier. As part of the standard review process of a Phase II investigation we confirm receipt of the statement of objections. It sets out the provisional position of the Commission and does not prejudge the final outcome of the case. Celanese remains committed to creating an acetate tow supplier that provides an increased ability to serve customers efficiently and reliably, while enhancing opportunities for innovation and productivity."