Competition Commission approves buyout of ASA Metals' ferrochrome production assets

The Competition Commission has recommended that the Competition Tribunal approve the proposed merger between ferrochrome producer ASA Metals and Newco. Newco is a newly created joint venture between Sinosteel and Samancor. Sinosteel operates globally in the production, supply and procurement of a range of commodity products, primarily focused on the production and supply of steel. “The proposed transaction is unlikely to substantially prevent or lessen competition in the market for the production and supply of ferrochrome. In addition, there are no public interest concerns,” the commission said.