Tata Steel on Saturday announced the acquisition of 1.30 crore optionally convertible redeemable preference shares (OCRPS) having a face value of ₹10 each of associate firm, TRF. The transaction aggregates to ₹13 crore...
Steel
Tata steel to grow organically, new acquisitions unlikely this decade: MD
Tata Steel Ltd will look to grow organically, and the steel giant is under “no pressure” to look at fresh acquisitions during this decade, Chief Executive Officer and Managing Director T V Narendran said...
Tata Steel to complete NINL acquisition in current quarter: CEO
Tata Steel will complete the acquisition of Neelachal Ispat Nigam Limited (NINL) by the end of the current quarter, its CEO and MD T V Narendran said on Tuesday. The acquisition of NINL is critical for Tata Steel to...
NCLT reserves order in ArcelorMittal’s resolution plan for Uttam Galva Steel
A dedicated bankruptcy court on Monday reserved its order on an application filed by the resolution professional of Uttam Galva Steel Ltd, seeking approval of the resolution plan filed by AM Mining India Pvt Ltd, a...
Jindal Stainless-Jindal Stainless (Hisar) merger gets shareholder, creditor approval
Jindal Stainless Limited (JSL) and Jindal Stainless (Hisar) Limited (JSHL) on Tuesday said that their proposed merger has been approved by their shareholders and creditors as required by the National Company Law...
Mahindra & Mahindra to sell entire stake in Mahindra Sanyo Special Steel for Rs 212 crore
Mahindra & Mahindra (M&M) on Saturday said it has agreed to sell over 34.75 lakh shares, constituting 22.81 per cent of the paid-up capital, in Mahindra Sanyo Special Steel Pvt Ltd (MSSSPL), to Japan-based Sanyo...
Tata Steel Completes Buy Out Of Sail’s Stake In S&t Mining
Tata Steel on Tuesday completed the acquisition of entire stake held by SAIL (Steel Authority of India) in S&T Mining, according to an exchange filing. Now, S&T Mining will become a wholly-owned subsidiary of...
Voestalpine in advanced talks to sell majority stake in Texas plant
Austrian specialty steelmaker Voestalpine is in advanced talks to sell a majority stake in its Texas plant, it said on Sunday. “In recent months, voestalpine has been conducting an open-ended market sounding to...
Tata Steel Mining’s Rs 780 crore resolution plan for Rohit Ferro Tech approved by NCLT
Tata Steel Mining is set to acquire Rohit Ferro-Tech with the Kolkata bench of the National Company Law Tribunal (NCLT) on Thursday approving its Rs 780-crore resolution plan for the bankrupt ferroalloy manufacturer...
US-based Nithia Capital acquires steel maker CREST for Rs 600 crore
US-based advisory and investment firm Nithia Capital on Tuesday announced the acquisition of Crest Steel and Power Pvt Ltd (CREST) in Chhattisgarh for Rs 600 crore through an insolvency proceeding. This acquisition has...
Nippon Steel buys majority stakes in two Thai steelmakers
Japan’s Nippon Steel Corp has completed its acquisition of majority stakes in two electric arc furnace steelmakers in Thailand, paying about $477 million in total, it said on Monday. The company, Japan’s...
Govt seeks bidders for FSNL strategic divestment
The government will divest its entire stake in Ferro Scrap Nigam Limited (FSNL) held through MSTC Limited in a strategic sale. The Centre will also give up management control in the profit-making central public sector...