CCI approves acquisition of thyssenkrupp Electrical Steel by JSquare
The Competition Commission of India (CCI) has recently approved the acquisition of thyssenkrupp Electrical Steel India Pvt Ltd (thyssenkrupp India) by Jsquare Electrical Steel Nashik Pvt Ltd (JSquare). JSquare, a newly-incorporated subsidiary of JSW JFE Electrical Steel Pvt Ltd (J2ES), is a 50:50 joint venture between JSW Steel Ltd and Japan’s JFE Steel Corporation. Currently, J2ES has no commercial operations but plans to begin the manufacture and sale of grain-oriented electrical steel (GOES) in India…