Tata Steel Limited has divested its entire stake in NatSteel Holdings Pte. Ltd. Singapore for an equity value of $172 million (Rs 1,275 crore) to TopTip Holding Pte Ltd, a Singapore based steel and iron ore trading...
Thyssenkrupp sells Italian stainless steel unit to Arvedi
Thyssenkrupp has agreed to sell its Italian stainless steel division to Arvedi as part of the conglomerate’s wider restructuring efforts, it said on Thursday. The German group’s Acciai Speciali Terni (AST) division is...
Strategic sale of Neelachal Ispat Nigam likely in two months
The Centre is aiming to complete strategic disinvestment of 100% stake in Odisha-based Neelachal Ispat Nigam (NINL), jointly owned by four central PSUs and two Odisha government PSUs, in a couple of months, sources told...
‘Sale of power business will help JSPL meet emission goals’
Jindal Steel and Power Ltd (JSPL) expects to pare debt and meet its carbon emission goals with the divestment of its entire stake in its thermal power unit to Worldone Pvt. Ltd, a promoter group company. JSPL’s managing...
China steel firms start merger to create world’s third biggest producer
Chinese steelmakers Ansteel Group and Ben Gang formally began the process of merging their operations on Friday, the official Xinhua news agency reported, in a move that will create the world’s third-largest...
Tata Steel interested in acquiring Vizag-based RINL: CEO T V Narendran
Domestic steel giant Tata Steel is interested in acquiring state-owned Rashtriya Ispat Nigam Limited (RINL), the company’s Chief Executive Officer (CEO) and Managing Director T V Narendran said. RINL, under the...
Govt extends bidding deadline for RINL transaction advisors till August 26
The Cabinet Committee of Economic Affairs (CCEA) on January 27 gave ‘in-principle approval for 100 per cent disinvestment of government stake in Rashtriya Ispat Nigam Limited (RINL). The government on Friday...
A Bajaj JV, one of India’s oldest tie-ups, will get unstuck this week
One of India’s oldest manufacturing joint ventures that had the blessings of Mahatma Gandhi is finally getting unstuck. The Bajaj family has decided to buy out its partners, the Shah brothers Suketu and Rajesh, from the...
NMDC board approves de-merger of NMDC Steel
State-owned NMDC on Tuesday said its board has approved the de-merger of NMDC Steel Limited. In a BSE filing, NMDC said NMDC Steel is its wholly-owned subsidiary, which currently does not have any business operations...
Top steelmakers shortlisted for acquiring Neelachal Ispat
ArcelorMittal, the world’s largest steel company, Sajjan Jindal-led JSW Steel, Hyderabad-based Megha Engineering and Infrastructure Ltd (Meil) and Tata Steel are among firms that have been shortlisted for buying...
Tata Steel advances process of merger with Tata Steel BSL: N Chandrasekaran
The process to merge Tata Steel BSL with Tata Steel has been advanced, the steel major’s Chairman N Chandrasekaran said on Wednesday. Tata Steel had won the bid to acquire debt-laden Bhushan Steel Ltd (BSL) in...
Chhattisgarh steel plant demerger to be completed in Q3: NMDC
NMDC Limited is expecting the demerger of its three-million tonne per annum capacity steel plant being set up in Chhattisgarh to be completed by the third quarter of the current fiscal, a senior official of the state...
