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...
Tata Steel divests its entire stake in NatSteel Holdings Pte for an equity value of Rs 1,275 crore
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...
