Chandhiok & Mahajan advised and represented JSW Steel Limited in securing a CCI approval for its proposed 50:50 joint venture with JFE Steel (Japan).
Chandhiok & Mahajan’s competition team acted for JSW Steel Limited (JSW Steel), JSW Kalinga Steel Limited and its subsidiary JSW Sambalpur Steel Limited, and Bhushan Power and Steel Limited (BPSL). The transaction involves the proposed transfer of the steel business of Bhushan Power and Steel Limited to the JV entity for a cash consideration of INR 24,483 crores, with JFE Steel infusing INR 15,750 crores into the JV entity in two tranches.
The transaction was previously disclosed by JSW Steel Limited to the stock exchanges on 3 December 2025 and is expected to drive efficiencies and accelerate capacity expansion through best-in-class technology and production of high value-added steel products.
C&M’s team comprised Karan S. Chandhiok (Head of Practice and Partner), Modhulika Bose (Partner), Tarun Donadi (Senior Associate), Riddhika Dumane (Associate) and Jai Hindocha (Associate).
JFE Steel was represented by AZB.