CCI Clears Nippon Steel’s Acquisition of Remaining Stake in Krosaki Harima

The Competition Commission of India has approved Nippon Steel Corporation’s acquisition of the remaining 53.4% stake in Krosaki Harima Corporation, making it a wholly owned subsidiary. Nippon Steel already held a 46.6% shareholding in the company.

The CCI found that the transaction does not raise any competition concerns, as it only consolidates existing ownership and does not lead to any change in Krosaki Harima’s business operations in India.

The regulator noted that the deal does not result in market overlap or adversely affect competition in any relevant market.

A detailed order from the CCI is awaited.