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India: Competition regulator clears Australian iron merger

 |  January 27, 2015

The Competition Commission of India approved on Tuesday (Jan. 27) the proposed sale of Larsen and Toubro’s iron manufacturing unit in Coimbatore to Australia-based Bradken Operations.

Larsen and Tourbo manufacture and sell grey iron and spheroidal graphite in India. Bradken manufactures products for the mining and contract manufacturing markets.

“The commission is of the opinion that the proposed combination is not likely to have an appreciable adverse effect on competition in India and, therefore, the commission hereby approves the proposed combination,” the CCI said.

Full Content: The Economic Times

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