The Competition Commission of India (CCI) has approved the acquisition of Metso Oyj’s (Metso) minerals business by Outotec Oyj (Outotec) under Section 31(1) of the Competition Act, 2002. The Proposed Combination relates to acquisition of Metso’s minerals business (“Metso Minerals”) by Outotec.
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Key-Points
The proposed combination will be achieved by way of a partial demerger of Metso Minerals pursuant to the Finnish Companies Act.
In return for the transfer of Metso Minerals to Outotec, the shareholders of Metso will receive newly issued shares in Outotec and hold the majority of the new entity’s shares.
Outotec is a public limited liability company incorporated and registered under the laws of Finland.
Metso is also a public limited liability company, incorporated and registered under the laws of Finland.
The Commission approved the Proposed Combination subject to the carrying out of modifications proposed by the parties, under Regulation 25 (1A) of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011.
