The Competition Commission of India (CCI) has announced that it has greenlighted the acquisition of thyssenkrupp Electrical Steel India Private Limited (thyssenkrupp India) by Jsquare Electrical Steel Nashik Private Limited (Jsquare), a subsidiary of JSW JFE Electrical Steel Private Limited (J2ES). Thyssenkrupp India is specialized in the production of grain-oriented electrical steel (GOES).
Accordingly, even though J2ES does not have any commercial operations in India, with the help of the acquisition, it is expected to begin production and sale of GOES in India starting from 2027.
Additionally, the sale price amounted to INR 40.5 billion ($477.27 million), as SteelOrbis reported previously.
