Taiwan’s Fair Trade Commission not to prohibit Walsin Lihwa’s combination of Outokumpu Long Products
On June 21, 2023, Taiwan’s Fair Trade Commission approved Walsin Lihwa’s acquisition of more than one-third of shares in Outokumpu Long Products AB through its subsidiary Cogne Acciai Speciali S.p.A. (CAS).
According to the Fair Trade Commission, Outokumpu Long Products is mainly operating in the European market and didn’t make sales in Taiwan last year. Besides, after the combination, Walsin Lihwa’s stainless steel billet and rod/bar business would still have to face competition from domestic and foreign industries. Therefore, it was thought that the combination should not pose restraints of competition in the market of this kind of steel product.
Walsin Lihwa filed a declaration for combination according to law to indirectly hold more than one-third of Outokumpu Long Products' equity through its subsidiary CAS and control Outokumpu Long Products' business operations and the appointment and dismissal of staff.
