BRAZIL TAKEOVER
July 1st, 2003
BY KEITH NUTHALLTHE EUROPEAN Commission has authorised a deal involving the merger of two key Brazilian suppliers of iron ore into the European Union market. It has approved the proposed acquisition by CVRD (Companhia Vale do Rio Doce) of sole control of Caemi, which it currently shares with Japanese iron ore trader Mitsui. This joint control resulted from a deal cleared by the Commission in October 2001. Although Brussels imposed conditions on this previous deal, it has concluded that the move to sole CVRD control will not create new competition concerns and so ...
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