Domestic steel maker Tata Steel said its committee of directors decided has approved raising ₹2,000 crore through allotment of non-convertible debentures (NCDs) on a private placement basis. In a filing to the BSE, the...
Steel
Essar Group to sell infra assets worth over Rs 19,000 crores to ArcelorMittal Nippon Steel
ArcelorMittal Nippon Steel (AM/NS) India will acquire a clutch of infrastructure assets including three ports, two power plants and a power transmission line from Essar Group for $2.4 billion, or about ₹19,158 crore...
CCI clears proposed merger of JSW Ispat, Creixent Special Steels with JSW Steel
Fair trade regulator Competition Commission of India (CCI) approved the proposal to merge Creixent Special Steels and JSW Ispat into JSW Steel. In May, JSW Steel announced the merger deal. JSW Steel and JSW Ispat are...
Centre cites policy to reject union’s proposal to merge RINL with SAIL
The centre has rejected a proposal by the employees’ union of Rashtriya Ispat Nigam Ltd (RINL) for merging the company with state-owned Steel Authority of India Ltd (SAIL), Parliament was told on Tuesday. The New...
ArcelorMittal to buy steelmaker Brazil’s CSP for $2.2 bln from Vale, Posco, Dongkuk
ArcelorMittal SA has signed a binding agreement to buy Brazilian steelmaker Companhia Siderurgica do Pecem (CSP) from Vale SA and its other key stakeholders, Vale said in a securities filing Thursday. The deal has an...
Stainless steel maker Outokumpu divests unit for about $229 mln
Finnish stainless steel maker Outokumpu Oyj has signed an agreement to divest the majority of its Long Products business to Italy’s Marcegaglia Steel Group for 228 million euros ($228.73 million), the company...
Tenaris to buy U.S. steel pipe producer for $460 million
Tenaris SA said it would acquire U.S. seamless steel pipe producer Benteler Steel & Tube Manufacturing Corp for $460 million as the Luxembourg-based company seeks to expand its manufacturing capabilities in the...
Tata Steel completes Rs 12,100 cr acquisition of NINL via step-down arm
Tata Steel said that it has completed the acquisition of 93.71 per cent in Neelachal Ispat Nigam Limited (NINL) through its listed step-down subsidiary, Tata Steel Long Products (TSLP). On January 31, TSLP was declared...
NMDC shareholders, creditors approve Nagarnar Steel Plant demerger: CMD
The shareholders and creditors of NMDC have approved the demerger of the company’s under-construction Nagarnar Steel Plant (NSP), its Chairman and Managing Director Sumit Deb said. The demerger of NSP from NMDC is...
Thyssenkrupp, Tata lose fight against EU veto of joint venture
Thyssenkrupp and Tata Steel have lost their fight against a European Union antitrust veto of their proposed landmark joint venture, after Europe’s second-highest court rejected their arguments. The two companies...
Neelachal Ispat acquisition crucial for Tata Steel growth path: Official
Describing winning the bid for acquiring a majority stake in Odisha-based Neelachal Ispat Nigam Ltd (NINL) as “crucial” for the company’s growth trajectory, Tata Steel said it provides enablers to go...
NMDC shareholders, creditors to discuss Nagarnar Steel Plant demerger on Tuesday
Steel Ministry will convene a meeting of shareholders and creditors of state-owned NMDC on Tuesday to expedite the process of demerging the company under construction Nagarnar Steel Plant (NSP). The Centre is aiming to...
