Indian steel magnate Lakshmi Mittal’s company ArcelorMittal SA may not have to retreat from the US as US Steel Corp has reportedly proposed a new offer to the company. According to a report by Reuters...
Nalwa Steel, BTL EPC bids tied for McNally
In a rare occurrence, the voting to select the winner between Nalwa Steel and BTL EPC plan for bankrupt McNally Bharat Engineering resulted in a tie, as both resolution plans received an equal number of votes from...
Jindal Stainless acquires remaining 74 pc stake in JUSL for Rs 958 crore
Jindal Stainless said it has acquired the remaining 74 per cent stake in Odisha-based Jindal United Steel Limited for Rs 958 crore. Jindal United Steel Limited (JUSL) has become a 100 per cent owned subsidiary of JSL...
Vedanta makes a fresh bid to sell steel biz ESL
Billionaire Anil Agarwal’s Vedanta Ltd is seeking to sell ESL Steel Ltd, formerly known as Electrosteel Steels Ltd, after acquiring the asset for ₹5,320 crore through a bankruptcy resolution process five years ago, two...
JSW Steel mulls bidding 20% stake in Canada’s Teck coal unit: Report
India’s leading steel producer JSW Steel Ltd is mulling a bid for as much as a 20 percent stake in Canada’s Teck Resources Ltd.’s steelmaking coal business, reported Bloomberg on 15 July citing sources. According...
Vedanta kicks off steel business review for likely stake sale
Vedanta has initiated a strategic review of its steel and steel raw materials businesses and may sell a part or all of these businesses. The natural resources conglomerate is looking to sell Electrosteel Steels a little...
Czech billionaire eyeing stake in Thyssenkrupp steel division
Czech billionaire Daniel Kretinsky is interested in acquiring a stake in Thyssenkrupp’s steel business, which is currently looking for a buyer or co-owner, a person familiar with the matter told Reuters on Friday...
LIC raises stake in SAIL by 2%
State-run insurer Life Insurance Corp of India (LIC) has hiked its stake by 2% in Steel Authority of India Ltd (SAIL) between October, 2021 and March 2023, according to an exchange filing. With the increase in stake...
Trinidad’s TTIS agrees to buy idled steel plant from ArcelorMittal
Trinidad and Tobago’s TT Iron Steel Company (TTIS) has agreed to purchase an idled iron and steel plant in the country from a unit of Luxembourg-listed multinational ArcelorMittal, the Trinidadian company said...
Financial bids for NMDC Steel likely by August
The government will likely invite financial bids for a 50.79% stake in NMDC Steel “within a month or two” after the operationalisation of the company’s new plant in Chhattisgarh is over by June, a person familiar with...
JSW Steel to acquire National Steel and Agro for Rs 621 crore
JSW Steel will acquire flat-steel producer National Steel and Agro Industries (NSAIL) through the bankruptcy court for a cash consideration of ₹621 crore through its wholly-owned subsidiary JSW Steel Coated Products...
Italy’s Marcegaglia buys Russian steelmaker Severstal’s Latvia unit
Marcegaglia has acquired Russian steelmaker Severstal’s unit in Latvia, the Italian steel firm said on Friday, after sanctions on Severstal’s main shareholder made it impossible for the business to operate...
