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Nippon Steel & Sumitomo Metal to make Nisshin Steel a subsidiary · Endata

◂ Announcements

Jan 30, 2017ACQUISITIONJapan

Nippon Steel & Sumitomo Metal to make Nisshin Steel a subsidiary

Nippon Steel & Sumitomo Metal (NSSMC) received approval from the Japan Fair Trade Commission to make Nisshin Steel a subsidiary. NSSMC will conduct a tender offer in February 2017 to raise its stake from 8.3% to 51%. To address antitrust concerns, NSSMC will transfer technology and manufacturing rights for certain steel products to Kobe Steel and Nippon Yakin Kogyo.

Status

Announced

Productsstainless cold-rolled steel sheethot-dip zinc-aluminum-magnesium alloy coated steel sheet

CompaniesKobe Steel partner Nippon Steel & Sumitomo Metal acquirer Nisshin Steel target Nippon Yakin Kogyo partner

Sectors#Steel and Metal Products

“新日鉄住金は30日、日新製鋼の子会社化について公正取引委員会から承認を受け、一部製品は神戸製鋼所などに技術や製造権を譲渡すると正式発表した。”nikkei.com

1 source
nikkei.com日新製鋼子会社化を公取委承認新日鉄住金、一部製品は譲渡 - 日本経済新聞Nikkei Inc.Jan 30, 2017

Summarized from public sources; check the original articles before acting on it.

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