Deutsche Bank has moved the National Company Law Tribunal (NCLT) to block ArcelorMittal’s ₹4,000-crore takeover of Uttam Galva Steels under the Insolvency and Bankruptcy Code (IBC). The lender has claimed that it...
Tata Steel arm accepts letter of award to acquire NINL; buyout process may complete in 2 months
Tata Steel said that its arm has accepted a letter of award (LoA) for the acquisition of a 93.71 per cent stake in Neelachal Ispat Nigam Ltd (NINL) and added that the process for the buyout is likely to be completed in...
ArcelorMittal joins race to buy Sprng Energy in green steel push
ArcelorMittal, the world’s biggest steel maker is making a play for Sprng Energy, Indian renewable platform of Actis, as the steelmaker looks at cleaner energy sources to decarbonise production around the world...
Tata Steel Long Products acquires NINL for Rs 12,100 cr
Tata Steel Long Products has won the bid to acquire Neelachal Ispat Nigam Ltd (NINL) for around Rs 12,100 crore at a time when the steel sector is going through an upturn. NINL’s capacity of 1.1 million tonnes can be...
Japan’s Nippon Steel buys Thai steelmakers in $763 mln deal
Japan’s Nippon Steel said it will buy two electric arc furnace steelmakers in Thailand in a deal worth up to $763 million, as it seeks to cut its reliance on blast furnaces that use coking coal and emit carbon...
Nippon Steel to buy Thai steelmakers in deal worth up to $763 mln
Japan’s biggest steelmaker Nippon Steel Corp will buy two electric arc furnace steelmakers in Thailand in a deal worth up to $763 million, it said on Friday, as it seeks to cut its reliance on blast furnaces that...
ArcelorMittal India-linked firm leads race to acquire Indian Steel Corp
An entity linked to ArcelorMittal India is the front runner for Indian Steel Corporation that was admitted for debt resolution by the bankruptcy court after proceedings were initiated by Bain Capital-Piramal Enterprises...
JSPL MD says company keen to buy Neelachal Ispat
Naveen Jindal-led Jindal Steel & Power is planning to “seriously pursue” state-run steel plant Neelachal Ispat Nigam Ltd (NINL) for which the government is expected to open bids on December 23. “We are very serious...
Nippon Steel in talks to buy steel mill in Southeast Asia -executive
Japan’s biggest steelmaker Nippon Steel Corp is in talks to buy a steel mill in Southeast Asia to secure iron-making resources in the growing market and step up its overseas expansion, a senior executive said...
Jindal Saw likely to acquire Sathavahana Ispat under the IBC route
Prithvi Raj Jindal’s holding company, Siddeshwari Tradex, raised a Rs 500 crore debt facility from an Edelweiss-promoted finance company and an Edelweiss-managed fund to finance the acquisition of bankrupt Sathavahana...
Tata Steel revives plans to sell its Thailand business
Tata Steel has revived plans to sell its Thailand business as the company looks to exit less profitable overseas units in the ongoing supercycle, said senior group officials aware of the developments. The proposed sale...
Bhushan Power & Steel: SBI moves NCLT to initiate CIRP against Singals
The State Bank of India (SBI) has moved a plea in the National Company Law Tribunal (NCLT) seeking to initiate insolvency proceedings against Sanjay Singal and Aarti Singal, the erstwhile promoters of Bhushan Power and...
