More countries approve FLSmidth's buyout of thyssenkrupp's Mining business

23rd March 2022 By: Schalk Burger - Creamer Media Senior Deputy Editor

Industrial engineering and equipment multinational FLSmidth has received regulatory clearances from the Australian, South African, Peruvian and Chilean authorities in relation to its acquisition of industrial and technology multinational subsidiary thyssenkrupp’s Mining business.

FLSmidth first announced the proposed buyout of thyssenkrupp's Mining business in July 2021.

The latest regulatory clearances are in addition to approvals already received, including, but not limited to, Canada and Morocco. All clearances to date have been without imposition of any competition-related remedies, the company reports.

“Receiving regulatory clearances in such important mining countries, from both a mine production and a customer standpoint, marks a significant milestone in our journey to complete our acquisition of thyssenkrupp’s Mining business,” FLSmidth Group CEO Mikko Keto says.

“The acquisition will contribute to FLSmidth’s ambition to strengthen our pit-to-plant service and equipment solutions, further improving what we can offer our customers.”

Pending the remaining authority approvals and satisfaction of conditions in the sale and purchase agreement with thyssenkrupp, the transaction is expected to close during the second half of this year.