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Competition Commission approves buyout of ASA Metals' ferrochrome production assets

24th April 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

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JOHANNESBURG (miningweekly.com) – The Competition Commission has recommended that the Competition Tribunal approve the proposed buyout by K2015356066 (Newco) of the ferrochrome production assets of ASA Metals.

Newco is a newly created joint venture between Sinosteel and Samancor. Sinosteel operates globally in the production, supply and procurement of a range of commodity products, primarily focused on the production and supply of steel.

“The proposed transaction is unlikely to substantially prevent or lessen competition in the market for the production and supply of ferrochrome. In addition, there are no public interest concerns,” the commission said.

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Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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