BRUSSELS, Sept 2 (Reuters) - Swedish refiner Nynas securedunconditional EU antitrust approval on Monday for its proposedtakeover of most units of Royal Dutch Shell's Harburgrefinery, a deal which will boost its specialty oil productionby about a third.
Nynas, a major supplier of bitumen for asphalt production,unveiled the deal for the 100,000 barrel per day (BPD) refineryin southern Hamburg in 2011.
The EU Commission, which opened an extensive investigationinto the planned takeover in March, worried that the mergedcompany would be the sole producer of naphthenic base oils inEurope, said the refinery would be closed without the deal.
"We authorised this acquisition because it is the only wayto avoid a price increase for consumers," EU CompetitionCommissioner Joaquin Almunia said in a statement.
Reuters had flagged the imminent EU approval on Aug. 29.
Naphthenic base oils are used to produce industrial grease,metalworking fluids, adhesives, inks, insoluble sulphur,industrial rubber and fertilisers.
Hit by weak profit margins and high oil prices, the Europeanrefinery business has seen a wave of consolidation.
