A PYMNTS Company

India: CCI approves ArcelorMittal’s acquisition of Essar Steel

By  |  September 20, 2018

The Competition Commission of India (CCI has approved the acquisition of debt-ridden Essar Steel by a consortium of ArcelorMittal and Japan’s Nippon Steel & Sumitomo Metal Corporation.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    “@CCI_India finds no appreciable adverse effect on competition in respect of ArcelorMittal and Nippon Steel & Sumitomo Metal’s proposed acquisition of Essar Steel,” the fair trade regulator said in a tweet on Thursday.

    ArcelorMittal India is an arm of ArcelorMittal, the world’s leading steel and mining company with a presence in 60 countries and an industrial footprint in 18 nations.

    In a separate tweet Thursday, the CCI said it “finds no appreciable adverse effect on competition in respect of JSW Steel’s proposed acquisition of Bhushan Power & Steel”.

    Full Content: First Post

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.