INEOS takeover deal under official investigation

INEOS are facing scrutiny over a major deal, with Sir Jim Ratcliffe already under mounting pressure at Manchester United.

Ratcliffe acquired an initial 25% stake in United in February 2024, assuming control of football operations while the Glazer family retained majority ownership.

His investment initially promised a fresh start, but controversial cost-cutting measures, hundreds of redundancies and disappointing performances have increasingly alienated supporters.

The Glazers remain deeply unpopular following their leveraged takeover in 2005, which burdened United with substantial debt.

United’s latest accounts revealed £689 million in borrowings, further intensifying concerns about the club’s financial position.

Reports have also suggested tensions between Ratcliffe and the Glazers over the handling of nearly 500 job cuts.

Supporters have responded with increasingly hostile demonstrations against both ownership groups.

During Tuesday’s Champions League clash against AS Roma, thousands of green-and-gold balloons were distributed before tennis balls were thrown onto the pitch.

Chants demanding the Glazers leave Old Trafford continued even after United overturned a 2-0 deficit to secure a remarkable 3-2 victory.

Further protests are planned for Sunday’s Premier League encounter against Aston Villa.

Supporters’ group The 1958 has encouraged fans to wear green and gold, boycott stadium spending and demonstrate against the ownership.

Now, another development has emerged involving Ratcliffe’s wider business empire.

INEOS deal faces official investigation

According to the Italian Competition Authority’s official bulletin, an investigation has been launched into Esseco Industrial’s proposed acquisition of INEOS-owned Inovyn Produzione Italia.

The decision was adopted on 27 October and published on 2 November.

The agreement involves selling INOVYN’s chemical facilities in Rosignano and Tavazzano, with completion originally anticipated before the end of 2026.

However, regulators have raised serious concerns about competition within Italy’s chemical industry.

Preliminary assessments suggest the combined businesses could control more than 50% of the hydrochloric acid market and over 60% of sodium hypochlorite sales nationally.

Authorities fear the transaction could significantly reduce competition and strengthen the buyer’s market position.

The investigation could delay the sale, although regulators have not rejected the acquisition outright.