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The CCI on November 28, 2019, has approved the acquisition of
Primetals Technologies by Mitsubishi Heavy Industries
("MHI").
Currently, MHI holds 51% shareholding in Primetals Technologies
("PT") through its solely controlled
subsidiary Mitsubishi-Hitachi Metals Machines. The deal involves
acquisition of the remaining 49% stake from Siemens AG.
Accordingly, MHI will own 100% of the registered share capital
of Primetals Technologies and PT would be solely owned and
controlled by MHI (as opposed to the existing joint control
exercised by both MHI and Siemens AG).
DSK Legal's observation: Transactions
beyond certain threshold requires CCI's approval.
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guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
