BCL moves to acquire Pula Steel

It is estimated that the acquisition will create 2,500 jobs. Currently, Pula Steel's plant situated in the copper mining town is dormant. The proposed deal has been taken before Competition Authority.

According to the merger notice from the Competition Authority, the proposed transaction will see BCL acquiring 50.5% issued share capital in Pula Steel. An economic analyst from the Competition Authority has told Mmegi Business that the acquisition is part of BCL's diversification strategy known as Polaris 11. The vertical merger will also enable BCL mine to acquire raw material from its new subsidiary.