Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 25.10.2022  
C(2022 ) 7833 final  
PUBLIC VERSION  
INEOS AG  
3 Avenue des Uttins  
CH – 1180 Rolle  
Switzerland  
 
China Petroleum and Chemical Corporation  
22 Chaoyang men North Stree t  
Chaoyang district, Beijing  
The People's Republic of China  
Subject : Case M.10888 – INEOS / SINOPEC / INEOS STYROLUTION 
ADVANCED MATERIALS  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and A rticle 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 30 September 2022 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger Regulation , by which INEOS AG 
(‘INEOS’, Switzerland) and China Petroleum and Chemical Corporation (‘Sinopec’ , 
China)  will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger 
Regulation joint control of INEOS Styrolution Advanced Materials (Ningbo) Pte Ltd 
(‘INEOS Styrolution  Advanced Materials’ , China), a newly created joint venture . The 
concentration is accomplished by way of purchase of shares.3 
2. The business activities of the undertakings concerned  are the following : 
 INEOS is a privately owned conglomerate company that produces  a range of 
chemicals including petrochemicals, specialty chemicals and oil products,  
 Sinopec is a petroleum and petro chemical state -owned enterprise , 
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 
3  Publication  in the Official Jou rnal of the European Union No C 390 , 11.10.2022,  p. 6. 

2  INEOS Styrolution Advanced Materials is developing and constructing, and 
will operate once completed, an acrylonitrile butadiene styrene plant in China . 
3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragraph 5 (a) of the  Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No 139/2004 .4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified  operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Olivier GUER SENT  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5 .