VAN OMMEREN, PAKHOED REACTIVATE MERGER PLAN
VAN OMMEREN, PAKHOED REACTIVATE MERGER PLAN
Van Ommeren and Pakhoed, the two big Dutch chemical and oil
logistics and storage operators, said that they are reactivating their merger plan.
The merger was stopped in June 1998 after the European Commission asked
the two companies to reduce their oil storage capacity as a condition for approving the
deal.
Van Ommeren and Pakhoed now expect to merge in October. They said that
they would divest a substantial portion of their chemical, mineral oil, vegetable oil and
gas storage interests in the ports of Rotterdam and Antwerp.