EU Advances Phase II Review of MMG-Anglo Nickel Acquisition

The European Commission has initiated a detailed Phase II investigation into MMG's planned $500 million acquisition of Anglo American’s nickel operations in Brazil. The review centers on potential implications for the EU’s ferro-nickel supply chain and competition within the regional stainless steel sector.

The transaction, involving a Hong Kong-listed company majority owned by China Minmetals, is subject to multiple regulatory approvals, including EU merger clearance and filings with Chinese authorities. Although most conditions have been met, the EU’s extended review requires MMG and Anglo American to propose remedies addressing market access and competition concerns. The Commission has set March 20, 2025, as the decision deadline.

  • $500 million acquisition of Brazilian nickel assets
  • Phase II EU merger control review underway, decision expected by March 20, 2025
  • MMG (Hong Kong/China) and Anglo American (UK), nickel resource, Brazil