The Competition Commission of India (CCI) has granted approval for the acquisition of specific interests in the Blackwater Coal Mine by NS Blackwater Pty Limited and JFE Steel Australia (BW) Pty Ltd.
Under the proposed transaction, NS Blackwater Pty Limited (NS Blackwater) will acquire a 20% stake, while JFE Steel Australia (BW) Pty Ltd. (JFE Steel BW) will acquire a 10% stake in the Blackwater Coal Mine, located in Queensland, Australia.
NS Blackwater is a newly established special-purpose vehicle created for this acquisition and is ultimately owned by Nippon Steel Corporation. Similarly, JFE Steel BW is a newly incorporated entity for this transaction and is wholly owned by JFE Holdings, Inc.
Operating since 1967, the Blackwater Coal Mine is an open-cut mining operation that exports coking coal, including to India.
The CCI’s detailed order on this acquisition will be issued in due course.
