The UK based Liberty group has acquired the bankrupt 0.25 million tonnes SBQ Steels, culmulating a three year process in which the company was put into liquidation after inital efforts to sell it failed. Liberty paid Rs...
Rio Tinto to invest $10 million in low-carbon steel with China’s Baowu
Rio Tinto Ltd said on Wednesday it plans to invest $10 million in low-carbon steelmaking projects over the next two years in an effort to fight climate change with China Baowu Steel Group. The investment will be used to...
JSW & lenders working out compromise to complete BPSL deal
JSW Steel’s higher offer to complete the Bhushan Power and Steel Ltd (BPSL) bankruptcy resolution is a part of a compromise formula being worked out by lenders and the Sajjan Jindal led steel company to ensure...
Liberty Steel to start due diligence on Thyssenkrupp steel business
Liberty Steel, which last month announced a non-binding indicative offer for Thyssenkrupp Steel Europe, will soon start looking into its financial records, it said on Wednesday. “Liberty Steel will shortly begin a...
JSW Steel to acquire 26.45% stake in JSW Vallabh Tinplate for Rs 35 crore
JSW Steel has entered into a legally binding share purchase agreement to acquire the remaining 26.45% stake of JSW Vallabh Tinplate for a total sum of Rs 35 crore from the existing third party shareholders as it will...
Tata Steel evinces interest in assets of Odisha-based NINL
Tata Steel on Tuesday evinced its interest for acquiring stake in Odisha-based steel maker Neelachal Ispat Nigam Ltd (NINL). NINL is a joint venture company, in which four central PSUs — MMTC, National Mineral...
Due diligence for Netherlands business sale to complete in next 2 months: Tata Steel CFO
The due diligence process for the sale of Tata Steel’s Netherlands operations will complete in the next two months, its Executive Director and CFO Koushik Chatterjee said on Tuesday. In Europe, Tata Steel is in...
Arjas Steel acquires steel, auto components business of Punjab-based Modern Steels
Andhra Pradesh-based Arjas Steel has agreed to acquire Modern Steel and modernise the Punjab-based company’s facilities, with a total investment of Rs 125 crore. Both companies manufacture specialised steel for...
Swedish steelmaker SSAB looking at merger of Tata Steel Europe business
Swedish steelmaker SSAB AB is exploring a combination with Tata Steel’s European business as a back-up plan to a deal with ThyssenKrupp AG amid industry consolidation, according to people familiar with the matter. SSAB...
NCLT approves JSW Steel’s resolution plan for Asian Colour Coated Ispat Ltd
The Delhi Bench of National Company Law Tribunal on Monday approved the resolution plan submitted by JSW Steel to acquire bankrupt steel company Asian Colour Coated Ispat Ltd (ACCIL) for Rs 1,550 crore. “JSW Steel...
Liberty Steel makes bid for Thyssenkrupp steel unit
Liberty Steel, founded by commodities tycoon Sanjeev Gupta, on Friday said it had made a non-binding offer for Thyssenkrupp’s steel unit, boosting shares in the conglomerate and setting off a new wave of consolidation...
Liberty Steel set to bid for Thyssenkrupp steel unit: source
Privately-held Liberty Steel Group is set to make a bid for the ailing steel unit of Germany’s Thyssenkrupp as soon as Friday, a source close to the process told Reuters on Thursday. A deal would combine the...
