The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Prosperity Kingsfield Limited of Hong Kong by Taifu Kechuang Special Steel (Shanghai) Co., Ltd. (‘Taifu Kechuang’), controlled by CITIC Group Corporation, both of China.
The transaction relates primarily to the trading and distribution of steel raw materials and products.
The Commission concluded that the notified transaction would not raise competition concerns, given the companies’ limited combined market position resulting from the proposed transaction. The notified transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.12474.
