Bhp Must Sell Smelter Stake To Convince South African Competition Commission

摘要

The South African competition commission has recommended that BHP Billiton's proposed merger with Rio Tinto be approved on the condition that BHP sells its interest in Rio's planned aluminium smelter in the country. Should the takeover go ahead, there would be less competition in the South African primary aluminium market. The merger would also adversely affect downstream industries that beneficiate aluminium. As a result, the commission has recommended to the Competition Tribunal that BHP's billion hostile takeover ofrnRio should go ahead only on the basis that BHP sells its interest in Rio's proposed Coega aluminium smelter project within twelve months of any takeover.