Billionaire steel magnate Lakshmi Mittal’s younger brother Pramod Mittal was due to be automatically freed from bankruptcy in Britain on Wednesday but has had his bankruptcy suddenly extended by the London high court...
Thyssenkrupp open to idea of German steel merger – CEO Steel Europe
Thyssenkrupp has not dismissed the idea of merging its steel business, Europe’s second-largest, with a rival, said Bernhard Osburg, chief executive of ThyssenKrupp Steel Europe, citing pressure to rein in costs and...
Steelmakers HBIS, POSCO to invest $600 million in China auto plates venture
Steelmakers HBIS Group of China and South Korea’s POSCO have agreed to invest $600 million to set up a joint venture for the production and sale of automotive steel plates in China, POSCO said on Friday. With this...
EU to decide by July 9 on ArcelorMittal bid for Liberty Steel France
European Union antitrust regulators will decide by July 9 whether to clear world No. 1 steelmaker ArcelorMittal’s bid for two French steel plants belonging to Sanjeev Gupta’s Liberty Steel, according to a European...
Lenders of Uttam Galva Steel approve ArcelorMittal’s resolution plan
The lenders of debt-ridden Uttam Galva Steels Ltd (UGSL) on Wednesday almost unanimously approved the resolution plan of Europe’s largest steelmaker ArcelorMittal Group, said three people close to the development...
JSW Steel denies Liberty asset bid as mill plans India expansion
India’s most valuable steelmaker is ruling out overseas acquisitions and is instead focusing firmly on its home market, with a $3.4 billion plan to sharply boost output. JSW Steel Ltd., whose quarterly profit soared to...
Canada’s Algoma Steel to go public via merger with blank-check firm Legato
Canadian steelmaker Algoma Steel is becoming a publicly listed company through a merger agreed with New York-based blank-check firm Legato Merger Corp in a deal that will value the combined company at more than $1...
India’s JSW Steel examining bid for Sanjeev Gupta’s British business: Report
India’s largest steel producer, JSW Steel, is considering a bid to buy Liberty Steel in Britain as well as mills elsewhere, two people familiar with the matter told Reuters, as would-be buyers circle Sanjeev...
Thyssenkrupp not looking at steel merger at the moment – CEO
Thyssenkrupp has no plans at the moment to merge its steel business, Europe’s second-largest, with a rival, Chief Executive Martina Merz told Rheinische Post in an interview. Talks with smaller peer Salzgitter are about...
Japan’s JFE may form electromagnetic steel sheet JV with JSW in India
Japan’s second-biggest steelmaker JFE Holdings Inc will study the feasibility of forming a joint venture with its Indian partner to make and sell electromagnetic steel sheet used in transformers, it said on Friday...
Jindal Steel exits Oman biz via balance 51% stake sale to Vulcan Steel
Moving towards the completion of its Oman unit divestment, Naveen Jindal-led Jindal Steel & Power (JSPL) arm Jindal Steel & Power (Mauritius) Limited has sold its balance stake to Vulcan Steel in the second and...
JSW Steel completes acquisition of 31% stake in Italy’s GSI Lucchini SpA
JSW Steel’s Italian subsidiary has completed the acquisition of remaining 30.73 per cent stake in GSI Lucchini SpA of Italy for one million euros. “Pursuant to fulfilment of conditions precedent mentioned in...
