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Straight Gate part of the deal
The Competition Commission of India (CCI) has approved the acquisition of Helsinki-headquartered Metso Oyj’s minerals business including capital equipment in India by Outotec Oyj, also from Helsinki, under Section 31(1) of the Competition Act, 2002.
Outotec has acquired all assets to Metso’s minerals business from July 2020. CCI announced its approval of Finnish Groups merger on 4 Sept 2020.
The modification essentially involves transferring a right to fully use the assets including Straight Grate Iron Ore Palletisation (IOP) Equipment Island in India.
The above order was a result of a detailed inquiry undertaken pursuant to the notice given by Metso and Outotec under sub-section (2) of Section 6 of the Competition Act, 2002 (Act) on 12 March 2020.
The Commission found that the Proposed Combination is an integration of two strong and close competitors in the market for IOP in India. #M&A #assets #mining #minerals /fiinews.com
