Fair trade regulator CCI has cleared Balasore Alloys' proposed acquisition of Odisha unit of Rohit Ferro-Tech saying that the deal may not have an adverse impact on competition in the country.
"...The proposed combination is not likely to have an appreciable adverse effect on competition in India and therefore, the Commission hereby approves the same," the Competition Commission of India said in an order.
CCI keeps a tab on unfair business practices across sectors.
Rohit Ferro-Tech provides a whole range of ferro alloys, while Balasore Alloys Ltd (BAL) is engaged in the production of ferrochrome only.
Rohit Ferro-Tech has three ferro alloy producing facilities located at Bishnupur and Haldia in West Bengal and Jajpur in Odisha.
Regarding acquisition of the facility of Rohit Ferro-Tech by Balasore Alloys, CCI noted that the post combination market share of the BAL and the presence of other major producers of ferrochrome and other ferro alloys in India such as Tata Steel, Ferro Alloys Corporation, Indian Metals and Ferro Alloys, Jindal Steel, Visa Steel would not allow BAL to raise any competition concerns.
