CCI Approves Acquisition of Arjas Steel by Sandur Manganese & Iron Ores and BAG Holdings

The proposed combination involves SMIORE and BHPL gaining control over ASPL and indirectly over AMSPL.

The Competition Commission of India (CCI) has given its approval for the indirect controlling acquisition of Arjas Steel Private Limited (ASPL) and its wholly-owned subsidiary, Arjas Modern Steel Private Limited (AMSPL), by The Sandur Manganese & Iron Ores Limited (SMIORE) and BAG Holdings Private Limited (BHPL).

The proposed combination involves SMIORE and BHPL gaining control over ASPL and indirectly over AMSPL. ASPL and AMSPL, collectively referred to as the Target, will come under the control of SMIORE and BHPL, collectively known as the Acquirers.

SMIORE, a publicly listed company, is primarily engaged in: (a) Mining of iron ore and manganese ore. (b) Production and sale of ferroalloys. (c) Production and sale of coke within India.

BHPL, an affiliate of SMIORE, is a newly incorporated company that currently does not undertake any revenue-generating activities in India or globally.

Target, Arjas Steel Private Limited, along with its subsidiary Arjas Modern Steel Private Limited, is engaged in the manufacturing and sale of steel products, heavy ingots, and certain other intermediate products, such as billets.