CURRENT AFFAIRS

Detailed explanation-1: -The Competition Commission of India (CCI) approves the acquisition of Metso Oyj’s (“Metso”) minerals business by Outotec Oyj (“Outotec”) under Section 31(1) of the Competition Act, 2002, here today. The Proposed Combination relates to acquisition of Metso’s minerals business (“Metso Minerals”) by Outotec.

Detailed explanation-2: -Metso Outotec Oyj is a Finnish publicly traded company that was established in 2020 when Outotec and Metso Minerals merged.

Detailed explanation-3: -Metso Outotec is a frontrunner in sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing and metals refining industries globally.

Detailed explanation-4: -Valmet Corporation and Metso Corporation have signed an agreement on the sale of Metso’s Process Automation Systems business to Valmet on January 15, 2015. The enterprise value of the acquisition is EUR 340 million. The acquisition was financed with committed long-term financing.