# Sumitomo Corp acquires 49% stake in Mukand Alloy Steels joint venture

The Competition Commission of India approved Sumitomo Corporation's acquisition of a 49% stake in Mukand Alloy Steels Pvt Ltd, a joint venture with Mukand Ltd to manufacture hot rolled wire rods and bars.

- Type: Acquisition
- Announced: 2017-06-20
- Where: India
- Status: announced
- Products: hot rolled wire rods, bars, blooms, billets
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Amec Foster Wheeler](https://endata.com/companies/1093.md) (target)
- [Sumitomo Corporation](https://endata.com/companies/6281.md) (acquirer)
- [Mukand Ltd](https://endata.com/companies/21452.md) (partner)
- [Mukand Alloy Steels Pvt Ltd](https://endata.com/companies/21454.md) (target)

## Sources

- [business-standard.com](https://www.business-standard.com/article/pti-stories/cci-approves-sumitomo-corp-s-stake-acquisition-in-maspl-117062000934_1.html), 2017-06-20: "acquisition of 49 per cent equity shares of Mukand Alloy Steels Private Limited by Sumitomo Corporation"
- [nsenergybusiness.com](https://www.nsenergybusiness.com/news/newssumitomo-buys-amec-foster-wheelers-cfb-boiler-business-270617-5853396/), 2017-06-27: "The completion of the sale of the CFB boiler business is a milestone in this programme."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.