Proposed merger of JSW Ispat and Creixent Special Steels with JSW Steel approved by CCI

19 Aug 2022 , 10:02 AM

The application to combine Creixent Special Steels and JSW Ispat into JSW Steel was accepted by the fair trade regulator Competition Commission of India (CCI) on Thursday. JSW Steel informed investors about the merger in May.

While Creixent Special Steels (CSSL) is engaged in the business of holding investments, JSW Steel and JSW Ispat are engaged in the production and marketing of steel products.

The merger of Creixent Special Steels and JSW Ispat Special Products with and into JSW Steel has been given the CCI’s approval, the company stated in a tweet on Thursday.

Separately, the watchdog has approved Katsura Investments, a Carlyle Group company, to acquire Varmora Granito Pvt Ltd and other companies.

Deals beyond a specific threshold need regulator permission, which maintains an eye on unethical commercial activities in the marketplace.