The European Commission extended on Friday its review of Evraz Group's plans to buy rival steelmaker Highveld, because of potential competition problems in the market for the steel-hardening element vanadium.
The deadline on the $678 million acquisition of the South African firm by Russia's Evraz was moved to February 20 from February 6.
That will allow rivals and customers to comment on proposals by Evraz designed to address potential competitive problems centring on vanadium, used among other things to create high-quality stainless steel.
The two companies are only a blip on the world steel market, but the ore they mine contains relatively high concentrations of vanadium.
Read more at Reuters South Africa
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