Following clearance by the competition authorities, Ineoshas successfully completed the purchase of BASF's 50% share in Styrolution, a joint venture between the companies.
The purchase price for the acquisition is €1.1 billion.
Styrolution will continue to operate as a stand-alone Business within INEOS Industries Holdings Limited.
"We are pleased to have completed this acquisition. It represents another important step in the growth of the Styrolution business as it competes effectively with large-scale producers from Asia and the Middle East. We are pleased to bring Styrolution fully into the Ineos family," said Jim Ratcliffe, Chairman, Ineos Capital.
Styrolution was founded in October 2011 as a 50-50 joint venture between BASF and INEOS, and is the leading, global styrenics supplier.
Ineos completes the acquisition of Styrolution