Shree Uttam Steel merger with Uttam Galva gets CCI nod.

Fair trade regulator CCI has cleared Shree Uttam Steel and Power's proposed merger with Uttam Galva Steels, co-promoted by Miglani family and ArcelorMittal.

Miglani family along with two other associate companies of Uttam Galva holds nearly 97 per cent stake in Shree Uttam Steel and Power.

The 'proposed combination is not likely to have an appreciable adverse effect on competition in India', CCI said in its order made public.

ET