The acquisition is subject to antitrust approvals and satisfaction of other conditions. The purchase price was not disclosed.
With the acquisition of Oxea, OOC aims to become a vertically integrated global chemical leader in the downstream industry.
With 1.3 million tons of Oxo chemicals and derivatives each year, Oxea generated sales of approximately €1.5 billion in 2012. The company was formed by merging two separate business units which Advent acquired in 2007 from Celanese and Degussa (now Evonik).