Competition Committee approves LNM takeover of Iscor

Friday, 14 May 2004 09:31:47 (GMT+3)   |  
       

Competition Committee approves LNM takeover of Iscor

According to recent news in the market, Competition Committee has announced that it has approved LNM's takeover of Iscor. However, now the acquisition is subject to approval of Competition Tribunal. On the condition that Tribunal approves the case, LNM will be able to increase its 49.9% stake in Iscor to more than 50%. Trade unions in South Africa expressed their concern about the matter however Competition Committee is of the opinion that takeover of Iscor by LNM will not have negative effect on South African steel industry. Moreover, Competition Committee stated that the agreement on new pricing model between LNM Holdings and Department of Trade and Industry (DTI) is a positive development.

Similar articles

Africa may be major iron ore exporter after 2020

09 Jun | Steel News

Melinda Moore: Raw material price volatility to continue until 2015

29 Nov | Steel News

USITC announces remand of investigations on HR steel from Kazakhstan, Romania, and South Africa

06 May | Steel News

Dry Cargo Chartering 15-21 January 2007 Weekly market report..Banchero Costa

24 Jan | Steel News

11 - 18 November 2005 weekly market report..Banchero Costa

22 Nov | Steel News

Africa may be major iron ore exporter after 2020

09 Jun | Steel News

Melinda Moore: Raw material price volatility to continue until 2015

29 Nov | Steel News

USITC announces remand of investigations on HR steel from Kazakhstan, Romania, and South Africa

06 May | Steel News

Dry Cargo Chartering 15-21 January 2007 Weekly market report..Banchero Costa

24 Jan | Steel News

11 - 18 November 2005 weekly market report..Banchero Costa

22 Nov | Steel News