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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