The Competition Commission of India (CCI) has approved Japan’s Nippon Steel Corporation’s proposal to acquire the remaining 53.4% stake in Krosaki Harima Corporation, taking its ownership from 46.6% to 100%. The transaction, announced in August last year and valued at about ¥75.7 billion, will be executed through a tender offer followed by a possible squeeze-out mechanism.
The approval enables Nippon Steel to gain complete control over Krosaki Harima, strengthening its position across the steel and refractory value chain. Both companies have a significant presence in India. Nippon Steel’s Indian operations include manufacturing tubes, pipes, automotive cold-rolled steel sheets, crankshafts and auto components, along with trading steel products.
Krosaki Harima operates in India through affiliates and manufactures refractory products used across iron and steel, cement, power, aluminium, copper and lime industries. CCI clearance was required as the deal crossed antitrust thresholds, marking a key consolidation move in the sector.
