Ovako AB

Sanyo Special Steel's acquisition of Ovako has been completed. Nippon Steel & Sumitomo Metal Corporation increased its ownership in Sanyo Special Steel, making it a majority-owned subsidiary.

The Competition Commission of India has cleared Nippon Steel & Sumitomo Metal Corporation's acquisition of 51% shareholding in Sanyo Special Steel, and the transfer of 100% shareholding in Ovako AB to Sanyo.

Nippon Steel & Sumitomo Metal Corp. completed its takeover of Ovako Group, a Swedish steelmaker and forger, from private-equity fund Triton. The value was not disclosed.

Nippon Steel & Sumitomo Metal Corporation (NSSMC) and Sanyo Special Steel have agreed to integrate Sanyo Special Steel as a NSSMC subsidiary, with a target date of March 28, 2019. The deal includes Sanyo acquiring Triako Holdco AB, parent of Ovako, making Ovako a subsidiary of NSSMC.

Nippon Steel & Sumitomo Metal Corporation (NSSMC) completed the acquisition of all shares of European special steel maker Ovako AB, making it a wholly owned subsidiary on June 1, 2018. The deal was valued at an undisclosed amount.