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The Competition Commission of India approved the acquisition of 100% of Thyssenkrupp Electrical Steel India Private Limited by Jsquare Electrical Steel Nashik Private Limited, a subsidiary of JSW JFE Electrical Steel Private Limited.
Jsquare Electrical Steel Nashik, a 50:50 joint venture between JSW Steel and JFE Steel, will fully acquire Thyssenkrupp Electrical Steel India for ₹4,051.40 crore. The deal includes licensing or transfer of technology from Thyssenkrupp. TKES India manufactures grain-oriented electrical steel at its Nashik facility.