China’s MMG Hit by EU Probe of $500 Million Anglo Deal (1)

Chinese-owned mining firm MMG Ltd.’s $500 million purchase of Anglo American Plc’s Brazilian nickel business has been hit by an in-depth European Union probe after regulators warned that the deal threatens the bloc’s stainless-steel industry.

EU competition chief Teresa Ribera said watchdogs will probe whether the deal “could jeopardize continued and reliable access in Europe” to the supply of ferro-nickel, a key alloying material in stainless steel production.

The firms will now be pressed to come up with solutions that appease regulators’ fears or run the risk of seeing the deal blocked. Officials have until March 20 to ...