FINNISH DEAL
August 1st, 2002
BY ALAN OSBORN
THE EUROPEAN Commission has cleared a deal under which the UK's Corus Group will relinquish its joint control of the Finnish undertaking AvestaPolarit Oyj Abp, a producer of stainless steel to the present joint owner Outokumpu Oyj, a Finnish mining company. The new sole owner deals in copper products, metallurgy, stainless steel and other industrial operations. The Brussels competition authorities said the deal did not threaten competition in the EU mining sector and approval was granted under the simplified merger review procedure.
THE EUROPEAN Commission has cleared a deal under which the UK's Corus Group will relinquish its joint control of the Finnish undertaking AvestaPolarit Oyj Abp, a producer of stainless steel to the present joint owner Outokumpu Oyj, a Finnish mining company. The new sole owner deals in copper products, metallurgy, stainless steel and other industrial operations. The Brussels competition authorities said the deal did not threaten competition in the EU mining sector and approval was granted under the simplified merger review procedure.
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