CCI clears Jsquare Electrical Steel acquisition of Thyssenkrupp Electrical Steel

The Competition Commission of India (CII) has cleared the acquisition of Thyssenkrupp Electrical Steel India Private Limited, also known as Thyssenkrupp India, by Jsquare Electrical Steel Nashik Private Limited. Under this, 100% share will be acquired by Jsquare of Thyssenkrupp India.

Newly formed J-square shall be a totally owned subsidiary of JSW JFE Electrical Steel Private Limited popularly known by the name, J2ES. In year 2023, the said JV was floated when JSW Steel collaborated with Japanese-based company, JFE Steel Corporation. Commercial operations are yet to be initiated by company J2ES but has started making necessary arrangements to start grain-oriented electrical steel manufacturing in India from 2027.

This would be a positive step for the JSW Group as it diversifies into different business portfolios that come under steel, energy, infrastructure, automotive and real estate. For the company JFE Steel, a world’s largest producer, this will also strengthen their venture. Thyssenkrupp India, which focuses on making grain-oriented electrical steel (GOES) for use in transformers and electric motors, will be a key part of the acquisition as the combined entity will be well-positioned to leverage growth in demand for electrical steel in India.

An effective approval is on its way shortly; however, these recognitions from the Commission will definitely open greater scopes and give India the largest impetus in its electrical steel sectors.