Fair trade regulator CCI on Tuesday cleared Tata Steel’s proposal to acquire a 50.01 per cent equity stake in Odisha-based Thriveni Pellets. The development came after Tata Steel in December last year announced...
Worthington Steel to buy Kloeckner & Co in $2.4 billion deal
Worthington Steel said on Thursday that it would buy Kloeckner & Co in a deal valued at $2.4 billion, as it looks to strengthen its position in the North American metal processing sector. Kloeckner & Co, which...
Thyssenkrupp weighs phased sale of TKSE to Jindal Steel International, sources say
Germany’s Thyssenkrupp could sell its steel division to India’s Jindal Steel International in several steps, four people familiar with the talks said, as the two sides try to strike a deal for the complex...
CCI okays Nippon Steel’s proposal to acquire 53.4% stake in Krosaki Harima Corp
The Competition Commission of India (CCI) on Tuesday approved Japanese steelmaker Nippon Steel Corporation’s proposal to acquire the remaining 53.4 per cent stake in Krosaki Harima Corporation. Nippon Steel holds...
Australia’s BlueScope Steel gets $8.8 billion buyout offer from SGH, Steel Dynamics
Australia’s BlueScope Steel said on Monday it received an A$13.15 billion ($8.78 billion) takeover proposal from an investor group comprising billionaire Kerry Stokes-owned SGH and U.S.-based Steel Dynamics. The...
Tata Steel plan to buy BlueScope gets CCI nod
The Competition Commission of India said Tuesday it has approved Tata Steel Ltd’s proposed acquisition of sole control in Tata BlueScope Steel Pvt Ltd by purchasing the remaining 50% equity shareholding currently...
Tata Steel announces growth plan for India, confirms Thriveni stake buy
Tata Steel announced the next phase of growth for its business in India on Wednesday. This includes expanding capacity at Neelachal Ispat Nigam, setting up rolling facilities at its plant in Meramandali, buying a 50.01%...
Tata Steel to acquire majority stake in Thriveni Pellets to boost raw material supply chain
Tata Steel is set to acquire a 50.01% stake in Odisha-based miner Thriveni Pellets, multiple people aware of the development said, without disclosing financial and other details. The proposed deal with Thriveni group...
Japan’s JFE, JSW forge ₹15,750-cr steel JV
JSW Steel on Wednesday announced a joint venture with Japan’s JFE Steel worth ₹15,750 crore, as part of which India’s largest steel producer will sell its subsidiary Bhushan Power & Steel’s...
JSW may sell 50% in Bhushan Power to JFE
JSW Steel is looking at options to sell a 50% stake in Bhushan Power and Steel, the distressed asset that it acquired in 2019. Japanese steelmaker JFE Steel Corp has emerged as the frontrunner for acquiring this stake...
IMFA to buy Tata Steel’s Kalinganagar ferrochrome plant in Rs 610 crore deal
Indian Metals & Ferro Alloys (IMFA) on Tuesday said it is acquiring Tata Steel Limited’s ferrochrome plant in Kalinganagar, Odisha, for ₹610 crore, after which it will become India’s largest and the...
Former ArcelorMittal deal whiz Sudhir Maheshwari buys Gujarat met coke unit
A dealmaker who helped Lakshmi Mittal list his company in 1997 and raise multi-billion-dollar financing to acquire Arcelor in 2006 is now looking to make a bet on the Indian steel industry. Sudhir Maheshwari-led Synergy...
