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...
Tata Steel to acquire SFML’s ferro alloy assets in Odisha for Rs 155 cr
Steel major Tata Steel on Wednesday said it will acquire ferro alloys producing assets of Odisha-based Stork Ferro and Mineral Industries for Rs 155 crore in an all-cash deal. In this regard, an Asset Transfer Agreement...
RINL disinvestment paves way for capital infusion, capacity expansion: Govt
The strategic disinvestment of government’s equity in Rashtriya Ispat Nigam Limited (RINL) would lead to infusion of capital, expansion of capacity, infusion of technology and better management practices, Union...
Vedanta, Welspun among 29 bidders in fray for Mittal Corp
Anil Agarwal-promoted Vedanta, Welspun Corp, O P Jindal-led Jindal Stainless Ltd and Ares SSG Capital-backed Assets Care & Reconstruction Enterprises Ltd are among 29 applicants to have shown interest in acquiring...
MMTC executes share-purchase pact to sell stake in NINL to Tata Steel arm
MMTC Ltd on Thursday said it has executed a share purchase agreement to sell its entire stake in Neelachal Ispat Nigam Ltd (NINL) to Tata Steel Long Products Ltd as part of the disinvestment drive of the government. In...
