FLSmidth Gets Regulatory Clearances In Select Countries For Purchase Of Thyssenkrupp's Mining Unit

FLSmidth A/S (FLIDF.PK), a Danish engineering company, announced Wednesday that it has received regulatory clearances for the acquisition of thyssenkrupp's Mining business in major mining countries.

The company's planned acquisition of thyssenkrupp's Mining business was announced in July last year.

FLSmidth has now received regulatory clearances from the Australian, South African, Peruvian and Chilean authorities. The company earlier received approvals in Canada and Morocco, among others.

All clearances to date have been without imposition of any competition related remedies.

FLSmidth Group CEO Mikko Keto said, "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.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."

The deal is expected to close during the second half of 2022, pending the remaining authority approvals and satisfaction of conditions in the sale and purchase agreement with thyssenkrupp.

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