CCI okays Nippon Steel's proposal to acquire 53.4% stake in Krosaki Harima Corp

Nippon Steel holds a 46.6 per cent stake in Krosaki. After the completion of the transaction, Nippon Steel's holding in Krosaki would be 100 per cent. "The proposed combination involves acquisition by Nippon Steel Corporation (Nippon Steel) of 53.4 per cent shareholding of Krosaki Harima Corporation (Krosaki) by way of a tender offer and potential squeeze out (if applicable)," the regulator said in a release. In India, Nippon Steel is engaged in the business of manufacturing tubes and pipes, and processing ...