The Spanish competition authority, CNMC, has authorized Bondalti Chemicals S.A. to acquire Ercros S.A. through an unsolicited public offer, with certain commitments to mitigate competition risks.

The acquisition primarily affects the production of basic inorganic and organic chemical products, particularly in the markets for chlorine and its derivatives, including caustic soda and sodium hypochlorite.

During the second phase of the investigation, the CNMC identified potential competition risks in the caustic soda and sodium hypochlorite markets. However, Bondalti's proposed commitments were deemed adequate to resolve these issues.

Bondalti will supply sodium hypochlorite to third-party manufacturers at cost, with a maximum of 85,000 tons annually, under a framework agreement approved by the CNMC. This commitment will last for an initial period of five years, extendable up to 15 years, and will be monitored by an independent administrator.

The CNMC's authorization is not final and will be communicated to the Minister of Economy, Commerce, and Enterprise for potential elevation to the Council of Ministers, which may consider broader public interest criteria.