Competition Commission of India (CCI) approves the acquisition of certain interest in Blackwater Coal Mine by NS Blackwater Pty Limited and JFE Steel Australia (BW) Pty Ltd

The Competition Commission of India (CCI) has approved the acquisition of certain interest in Blackwater Coal Mine by NS Blackwater Pty Limited and JFE Steel Australia (BW) Pty Ltd.

The Proposed Combination envisages the acquisition of 20% and 10% interest in Blackwater Coal Mine (BW Coal Mine) by NS Blackwater Pty Limited (NS Blackwater) and JFE Steel Australia (BW) Pty Ltd. (JFE Steel BW), respectively.

NS Blackwater is a newly incorporated special purpose vehicle formed for the purposes of the Proposed Combination. It is ultimately owned by Nippon Steel Corporation.

JFE Steel BW is a newly incorporated special purpose vehicle formed for the purposes of the Proposed Combination. It is ultimately owned by JFE Holdings, Inc.

The BW Coal Mine is an open-cut mine in Queensland, Australia, which has been operating since 1967. In India, the BW Coal Mine supplies coking coal by way of imports.

Detailed order of the Commission will follow.