Evonith Steel on Friday announced the acquisition of Indrajit Power Pvt Ltd (IPPL) through an insolvency process for Rs 232 crore. The acquisition of 85 MW thermal asset will support its power requirements, Evonith...
Steel
How JSW Energies’ Rs 3,150-crore JSW Steel stake sale will help lower debt, Jefferies explains
Jefferies has turned more constructive on JSW Energy after its Rs 3,150 crore stake sale in JSW Steel to GQG and SBI Mutual Fund, saying the transaction should help improve leverage metrics and support the company’s...
Thyssenkrupp, Jindal call off steel sale talks after months of negotiations
Thyssenkrupp has paused talks with India’s Jindal Steel International about a possible sale of the German industrial group’s steel unit, it said on Saturday, marking a setback for CEO Miguel Lopez’s...
JSW Steel says Japan’s JFE invests Rs 7,875 crore in JSW Kalinga, picks up 25% stake
JSW Steel on Monday said Japan’s JFE Steel Corporation has invested Rs 7,875 crore in its subsidiary JSW Kalinga Steel, acquiring a 25% stake and triggering joint control of the venture. The investment marks the first...
Thyssenkrupp, Jindal Steel sale talks falter on pension, energy costs, sources say
Discussions of a possible sale of Thyssenkrupp’s steel unit to Jindal Steel International could be called off due to differences over pension liabilities, investments and energy costs, four people familiar with...
Tata Steel to merge wholly owned subsidiary NINL, aims to optimise operations
Tata Steel’s board has approved the merger of its wholly owned subsidiary, Neelachal Ispat Nigam (NINL), with the company, as the steelmaker looks to simplify its structure, improve raw material...
Jindal Steel’s Thyssenkrupp buy talks in gridlock, a new suitor stirs the pot
Six months after steel magnate Naveen Jindal made an unsolicited bid to acquire the steel assets of Germany’s Thyssenkrupp AG, the two sides have hit an impasse over three key sticking points, according to two people...
IMFA completes ferro chrome plant acquisition from Tata Steel at Rs 707 crore transaction
Indian Metals & Ferro Alloys has completed the acquisition of a ferrochrome plant in Odisha from Tata Steel at a transaction cost of Rs 707.26 crore. Spread across 115 acres in Kalinganagar, the newly-acquired...
SGH, Steel Dynamics bid $10.6 billion for BlueScope Steel but investors remain wary
Australian steelmaker BlueScope Steel said it was considering a sweetened A$15 billion ($10.62 billion) takeover approach from SGH Ltd and U.S.-based Steel Dynamics, but investors remain hesitant that a deal will go...
CCI approves Tata Steel’s acquisition of 50.01% stake in Thriveni Pellets
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...
