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...
Steel
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...
JC Flowers ARC emerges top bidder for Sathavahana debt at Rs 410 crore
JC Flowers Asset Reconstruction (ARC) has emerged as the highest bidder for acquiring the debt of Hyderabad-based steel company Sathavahana Ispat at Rs 410 crore, said a person with direct knowledge of the development...
JSW Steel completes acquisition of Welspun’s plates and coil mill business
Steelmaker JSW Steel on Thursday completed buying the plates & coil mill business of Welspun for a sum of Rs 848.5 crore under a business transfer agreement. “It may kindly be noted that Laptev (a JSW Group company)...
After acquiring Bhushan Power, JSW Steel eyes Neelachal Ispat
After completing the acquisition of Bhushan Power & Steel under the insolvency law, Sajjan Jindal-controlled JSW Steel, has thrown its hat in the ring for Neelachal Ispat Nigam Ltd (NINL). Sources said that the...
JSW transfers Rs 19,350 cr to complete acquisition of Bhushan Power and Steel
JSW Steel has transferred Rs 19,350 crore to a Punjab National Bank (PNB) account to complete the acquisition of Bhushan Power and Steel (BPSL), bringing the three-and-a-half-year-old resolution process to an end...
JSW Steel completes acquisition of remaining 26.45% stake of JSW Vallabh Tinplate
JSW Steel on Friday said it has completed the acquisition of the remaining 26.45 stake of JSW Vallabh Tinplate Pvt Ltd. With this, JSW Vallabh Tinplate Pvt Ltd is now a wholly-owned subsidiary of the company, JSW Steel...
NCLAT rejects Interups’ plea in ACCIL insolvency matter; says appellant not an aggrieved party
The National Company Law Appellate Tribunal (NCLAT) dismissed a plea by US-based Interups Inc that challenged a lower court’s approval of JSW Steel group’s Rs 1,550 crore-bid for Asian Colour Coated Ispat...
