21
Jun
16:06
India approves Sumitomo acquisition of Mukand Alloy stake
The Competition Commission of India (CCI) has approved the acquisition of a 49% stake in Mukand Alloy Steels Private Limited (MASPL) by Sumitomo Corporation, CCI says in a notice seen by Kallanish.
The acquisition was initially announced by Sumitomo earlier this year (see Kallanish 3 April).
Mukand incorporated MASPL in 2015 with a view to transferring its Speciality Steel division into a separate subsidiary. The transfer of operations to MASPL is now complet…
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