Brussels, 6 September 2024
The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Baoshan Iron & Steel Co., Ltd. (‘Baosteel’), Baowu Aluminum Technology Co., Ltd. (‘Baowu Aluminum’) and Kobelco (China) Holding Co., Ltd. (‘Kobelco’), all of China.
The transaction relates primarily to the sector of automotive aluminium sheets.
The Commission concluded that the notified transaction would not raise competition concerns, given the limited impact on the European Economic Area. The notified transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11686.