Shardul Amarchand Mangaldas & Co. advised Metso Oyj (Metso) and Outotec Oyj (Outotec), in obtaining approval of the Competition Commission of India (CCI) for Outotec’s acquisition of the minerals business of Metso (Metso Minerals).
The transaction will be achieved by way of a partial demerger of Metso, to the effect that all assets, rights, debts, and liabilities of Metso Minerals will be acquired by Outotec. The shareholders of Metso will receive newly issued shares in Outotec and will hold approximately 78.0% of the total shares in Outotec.
The CCI provided its conditional approval on 18 June 2020. The transaction was closed on 30 June 2020.
The competition team was led by Harman Singh Sandhu, Partner; Rohan Arora, Partner; Atreyee Sarkar, Senior Associate; Tripti Malhotra, Senior Associate; Gauri Mehta, Associate; along with special assistance from Pranav Satyam, Special Advisor.
White & Case LLP was Metso’s global antitrust counsel.
Hannes Snellman Attorneys Ltd was Outotec’s global antitrust counsel.
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