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JSW-JFE JV seeks India approval for Thyssenkrupp Electrical Steel acquisition

By Freny Patel ( November 4, 2024, 00:12 GMT | Insight) -- Indian-Japanese joint venture steel manufacturer Jsquare Electrical Steel Nashik has sought approval from the Indian antitrust watchdog for the acquisition of the local subsidiary of the German conglomerate Thyssenkrupp AG. The merger was filed to the Competition Commission of India under Form II, indicating that the combined market share of the parties exceeds 15 percent in certain defined markets. While the joint venture company has not started manufacturing or selling grain-oriented electrical steel, its Japanese parent JFE Steel currently sells that market in India. In an aim to strengthen the domestic production of grain-oriented electrical steel in India, Jsquare Electrical Steel Nashik has sought approval from the country's antitrust watchdog for the proposed acquisition of Thyssenkrupp Electrical Steel India.   ...

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