CCI approves JSW Projects’ stake-buy in BMM Ispat

The Competition Commission of India (CCI) has approved JSW Projects Ltd's (JPL) acquisition of majority shareholding in BMM Ispat Ltd.BMM).

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 Ltd.

BMM, incorporated in India, is engaged in the manufacture and sale of steel products including iron ore pellets; sponge iron; TMT bars and semis.

HBL