The approval requires the divestment certain businesses. BASF has committed to the European Commission to sell the Cognis hydroxy methacrylates, multifunctional methacrylates (MFM) and adducts businesses, and plants for the manufacture of polyalkylene glycols (PAG) and PAG-based lubricants, located at Cognis' site in Hythe, UK. BASF will retain the PAG business including the customer base and intellectual property rights. In addition, the Chinese authorities have approved the acquisition. The transaction has now received approval from all relevant competition authorities and is expected to close in the first half of December.