Thyssenkrupp has received a non-binding bid for its steel unit from a division of Indian conglomerate Naveen Jindal Group, the German company said on Tuesday, the latest twist in the group’s years-long effort to...
Supreme Court reserves verdict on JSW Steel’s Rs 19,700 crore resolution plan for Bhushan Power
The Supreme Court on Monday reserved its verdict on a batch of pleas related to JSW Steel’s Rs 19,700-crore resolution plan for debt-ridden Bhushan Power and Steel Limited (BPSL). A special bench comprising Chief...
CJI to Form Bench on JSW, lenders’ plea against Bhushan Power liquidation
Chief Justice of India BR Gavia on Monday said he will soon constitute a bench to hear review petitions filed by JSW Steel and lenders of Bhushan Power and Steel (BPSL) against the Supreme Court’s May 2 judgment that...
Bhushan Power liquidation will hurt all stakeholders, JSW Steel and lenders tell SC
JSW Steel has transformed Bhushan Power & Steel Ltd (BPSL) into a viable and going concern after acquiring it out of bankruptcy in 2021, and its liquidation would have adverse ramifications on all stakeholders, the...
Tata Steel acquires 179 crore shares in Singapore subsidiary T Steel Holdings for Rs 1,562.54 cr
Tata Steel Limited on Wednesday said that it has acquired 179.10 crore equity shares in its Singapore-based wholly owned subsidiary, T Steel Holdings Pte. Ltd (TSHP), for a total consideration of approximately Rs 1,562...
JSW Steel files review petition before India’s top court on Bhushan Power deal collapse (June 25)
Indian steelmaker JSW Steel said on Wednesday it has filed a review petition before the country’s top court, related to the rejection of its $2.3 billion takeover plan of Bhushan Power and Steel (BPSL). Early last...
ArcelorMittal signs deal to sell its steel mill and iron ore mine in Bosnia
ArcelorMittal, the world’s second-largest steelmaker, said it signed a deal on Friday to sell its operations in Bosnia and Herzegovina, comprising a steel mill and an iron ore mine, to the Bosnia-based Pavgord...
Nippon steel acquires US steel for $14.9 bn with Trump-backed deal
Nippon Steel’s $14.9-billion acquisition of US Steel closed on Wednesday, the companies said, confirming an unusual degree of power for President Donald Trump after the Japanese company’s 18-month struggle...
Bhushan Power and Steel lenders move SC for review of JSW Steel decision
Bhushan Power and Steel (BPSL) lenders including SBI, led by the Punjab National Bank, on Monday moved the Supreme Court seeking review of its May 2 judgment that scrapped the JSW Steel’s acquisition of the debt-laden...
Trump approves Nippon Steel’s $14.9 billion purchase of US Steel
U.S President Donald Trump approved Nippon Steel’s $14.9 billion bid for U.S. Steel on Friday, capping a tumultuous 18-month effort by the companies that survived union opposition and two national security reviews...
India outbound could be big: JP Morgan sees surge in global M&A ambitions among Indian firms
Echoing this view, Ravi Shankar, JP Morgan’s co-head of investment banking for India and head of the technology, media, telecom (TMT), and consumer & retail verticals, said capital markets are proving to be...
BPSL liquidation: Returning ₹19,350 crore won’t be enough to compensate JSW Steel
JSW Steel , in its review petition to the Supreme Court, is expected to highlight its financial losses that were borne out of the invalidation of its ₹19,350 crore insolvency resolution plan for Bhushan Power and Steel...
