A bid which Britain’s Liberty Steel submitted for Thyssenkrupp’s steel division in January must be clarified in ongoing talks between the two firms, the German group’s chief executive said. The bid still contains “a...
AM/NS buys Essar Steel’s CPP under Sarfaesi, says lenders will recover 85%
ArcelorMittal Nippon Steel India (AM/NS India) has acquired a captive power plant of Essar Steel, Essar Power Orissa Limited (EPORL), under the Securitisation and Reconstruction of Financial Assets and Enforcement of...
Tata Steel to continue separation of European activities
Tata Steel’s European works council on Friday said it expected the separation of Tata Steel’s Dutch and British operations to continue, despite Swedish steelmaker SSAB’s decision to halt talks over the...
SSAB exits talks to buy Tata Steel unit
Swedish steelmaker SSAB has called off talks with Tata Steel Ltd for a possible acquisition of the Indian company’s IJmuiden steel mill in the Netherlands. SSAB said in a public statement on Friday that the “synergies...
Government begins strategic sale of NINL, invites EoIs
The government has invited expression of interest for strategic divestment of Neelachal Ispat Nigam Limited (NINL) at enterprise value. The sale will include transfer of management control, mining rights and leasehold...
Britain’s Liberty Steel firms up offer for Thyssenkrupp steel unit
Britain’s Liberty Steel, Europe’s fourth-largest steelmaker, said on Monday it had submitted an updated offer for German conglomerate Thyssenkrupp’s steel division. The move comes about three months after Liberty Steel...
Karnataka High Court rejects MML’s ₹1,172.8 crore counterclaim against JSW Steel
The Karnataka High Court has rejected a Mysore Minerals Ltd (MML) plea to add a counterclaim of about ₹1,172.79 crore to a petition of JSW Steel Ltd, which is seeking a refund of about ₹272 crore from the state-owned...
Govt to sell up to 10% equity in SAIL through offer for sale
The government will sell up to 10% equity in Steel Authority of India or SAIL through an offer for sale slated for January 14 and January 15. The government will sell 5% equity in the central public sector enterprise...
Nithia Capital and CarVal Investors complete acquisition of stressed assets of Uttam Group for ₹2,000 crore
UK-based stressed asset management companies, Nithia Capital and CarVal Investors, announced Tuesday that they have completed the acquisition of Uttam Galva Metallics Limited (UGML) & Uttam Value Steel Limited...
Sale of SAIL’s units may not fill Centre’s coffers
A planned strategic sale of two Steel Authority of India Ltd (SAIL) plants expected to be completed by 31 March will not add to the government’s divestment receipts for this fiscal, a finance ministry official said on...
JSL, Jindal Stainless (Hisar) boards approve merger in share swap of 1:1.95
The Boards of Jindal Stainless Limited (JSL) and Jindal Stainless (Hisar) Limited (JSHL) today approved the merger of JSHL into JSL in a share swap ratio of 1:1.95. “The merger of JSHL in to JSL will induce a simplified...
JSW Steel to acquire 31% stake in Italy’s GSI Lucchini
JSW Steel’s Italian subsidiary has signed an agreement to acquire the remaining 30.73 per cent stake in GSI Lucchini SpA of Italy for one million euros (about Rs 9 crore). The balance share capital of GSI is...
