EU approves DuPont venture with Turkey's Sabanci
BRUSSELS, Nov 25 - The European Commission said on Thursday it had cleared a proposed polyester joint venture between U.S. chemicals firm DuPont Co and Turkish conglomerate Sabanci .
The sale is part of the ongoing restructuring of DuPont's polyester businesses.
The Commission said neither of the companies have more than a 15 percent share of downstream polyester resins, fibres and yarn markets.
While DuPont was found to have a 20 to 30 percent market share in western Europe for a polyester intermediary, the Commission found other strong suppliers existed.
Separately, the Commission also cleared a polyester films joint venture between DuPont and Japan's Teijin