India, Oct. 7 -- The Government of India has issued a release:
The Competition Commission of India (CCI) has approved the proposed combination related to internal restructuring of the JSW Group.
The parties to the combination are JSW Steel Limited (JSW Steel), JSW Projects Limited (JSW Projects), and BMM Ispat Limited (BMM).
The Proposed Combination is an internal group restructuring within the JSW Group with the objective of consolidating JSW Group's majority interest in BMM into full ownership. Currently, JSW Group (through JSW Projects) holds 58.47% equity shareholding in BMM, and BMM is commercially integrated within JSW Group's supply chain through intra-group sales and procurements. With the intent to enhance operational, financial...