The National Company Law Tribunal (NCLT) has approved steel manufacturer Radha Smelters Pvt Ltd’s resolution plan to acquire GVK Gautami Power Ltd through the insolvency resolution process. The Hyderabad-based TMT...
India steel minister says no decision on KIOCL, NMDC merger
India has not taken any decision to merge KIOCL and NMDC, junior Steel Minister Bhupathiraju Srinivasa Varma said in a written response in parliament on Tuesday. The steel ministry had proposed a merger of the miners in...
Jindal Steel said to raise bid for Italian steelmaker to €4 billion
Jindal Steel raised its offer for a troubled Italian steelmaker to about €4 billion ($4.2 billion), seeking to outbid rivals from Azerbaijan, people familiar with the matter said. The Indian steelmaker’s latest proposal...
Tata Steel acquires equity stake worth Rs 10,727-cr in subsidiary, TSHP
Tata Steel said that it has acquired 788,53,50,318 ordinary equity shares of face value $ 0.157 each aggregating to $1,238 million (Rs 10,726.85 crore) in T Steel Holdings (TSHP). T Steel Holdings (TSHP) is a wholly...
CCI clears Nippon Steel, JFE Steel’s proposal to collectively acquire stakes in Australian coal mine
Fair trade regulator CCI on Tuesday said it has approved a proposal of Japanese steelmakers Nippon Steel and JFE Steel to collectively acquire a 30 per cent stake in Queensland’s Blackwater coal mine. “The...
Spanish group from Basque Country agrees to buy 29.7% of Talgo
A Spanish consortium from the Basque Country, made up of shareholders in steel maker Sidenor, the regional government and local lender Kutxabank, has reached an agreement to buy 29.7% of train maker Talgo, Talgo said on...
Nippon Steel considering ‘bold’ revision to US Steel buyout, government spokesperson says
Japan’s Nippon Steel is considering proposing a bold change in plan from its previous approach of seeking to buy U.S. Steel, Chief Cabinet Secretary Yoshimasa Hayashi said on Monday, though the company declined to...
CCI clears deal involving two POSCO Group entities
The antitrust regulator has approved a POSCO Holdings subsidiary’s acquisition of the entire stake of LX International Corporation in another arm of the steel giant. The acquisition, analysts have said, is aimed at...
Bankruptcy court approves Helios Photo Voltaic’s acquisition by OCL Iron & Steel
The bankruptcy court approves Helios Photo Voltaic Ltd, earlier known as Moser Baer Photo’s acquisition by OCL Iron & Steel Ltd through an insolvency resolution process. Helios Photo Voltaic manufactures solar...
Activist Ancora to push U.S. Steel to drop Nippon merger and oust CEO, WSJ reports
Activist investor Ancora Holdings has built a stake in U.S. Steel and wants the steelmaker to drop its merger agreement with Japan’s Nippon Steel, the Wall Street Journal reported on Sunday, citing sources. The...
Vizag Steel Plant will not be merged with SAIL: Union Minister Srinivasa Varma
Union Minister of State for Steel B Srinivasa Varma on Thursday said that the prospect of merging Visakhapatnam Steel Plant (VSP) with the Steel Authority of India (SAIL) will not arise. The SAIL had rejected the idea...
Cleveland-Cliffs eyeing all-cash bid for U.S. Steel, source says
Cleveland-Cliffs is partnering with peer Nucor to prepare a potential all-cash bid for U.S. Steel, with an offer in the high $30s per share, a person familiar with the matter said on Monday. Cliffs is aiming to purchase...
