The Competition Commission of India (CCI) approves proposed combination relating to acquisition of majority shareholding in B.M.M Ispat Limited (BMM) by JSW Projects Limited (JPL).
JPL, a part of the JSW group, is engaged in the business of manufacture of direct reduce iron/ sponge iron, coke dry quenching and captive power generation which are ultimately used in the manufacture of steel and steel products on a job work basis for JSW Steel Limited.
BMM, incorporated India, is engaged in the manufacture and sale of steel products including (i) iron ore pellets; (ii) sponge iron; (iii) TMT bars and (iv) semis.
Detailed order of the CCI will follow.