The government on Wednesday approved demerger of the under-construction Nagarnar steel plant (NSP) from NMDC, and its strategic disinvestment by selling the entire stake of the Centre to a strategic buyer. State-owned...
Thyssenkrupp CEO: government stake one option to fix steel unit
Thyssenkrupp will consider all options, including selling a stake to the German government, in its plans to fix its ailing steel unit, Chief Executive Martina Merz said. “State participation is one option,” Merz said on...
Chinese conglomerate Jingye expresses interest to takeover Tata Steel UK Assets
Chinese steelmaker, Jingye has expressed an interest in taking over Tata Steel’s UK operations, said a leading UK-based television channel on Saturday. Sky News has learnt that Jingye Group told Tata’s...
NCLT admits insolvency plea against Uttam Galva Steel Ltd
The National Company Law Tribunal (NCLT) has admitted an insolvency case against the debt-ridden Uttam Galva Steels Ltd (UGSL) on Thursday after its financial creditor, State Bank of India, filed a petition against the...
Cleveland-Cliffs to buy ArcelorMittal US assets for $1.4 bn in cash, shares
Cleveland-Cliffs Inc, the largest U.S. producer of iron ore pellets, has agreed to buy the U.S. assets of the world’s largest steelmaker ArcelorMittal SA for about $1.4 billion in cash and shares. The deal...
ArcelorMittal in talks to merge US assets with Cleveland-Cliffs: Report
ArcelorMittal SA, the world’s largest steelmaker, is exploring a deal to merge its U.S. operations with Cleveland-Cliffs Inc, the largest U.S. producer of iron ore pellets, people familiar with the matter said on...
Delay in deciding BPSL case will only hurt lenders and bidder
Delays in deciding the Bhushan Power & Steel (BPSL) case will only hurt the affected lenders and the bidder, a top JSW Steel executive told ET, even as the Enforcement Directorate approached the top court against a...
JSW Steel may bid for Gontermann Peipers as firm gets admitted to NCLT
Sajjan Jindal-controlled JSW Steel may bid for Gontermann-Peipers (India), a firm promoted by Pramod and Vinod Mittal, which was admitted to the National Company Law Tribunal (NCLT) last year. The cast and forged rolls...
NCLAT rejects plea challenging NCLT’s resolution plan of Uttam Value Steel
The National Company Law Appellate Tribunal (NCLAT) has dismissed a plea challenging NCLT’s approval to the resolution plan of debt-ridden Uttam Value Steel. A three-member bench has upheld the orders of the Delhi...
Liberty Steel seeks more acquisitions in India, to double Odisha capacity
London-based Liberty Steel Group, which acquired Adhunik Metaliks (AML) in March this year for Rs 500 crore, is looking for more acquisitions in India. The group sees high growth in the Indian economy after the country...
Tata may sell stake in JLR, UK steel plant as talks with British govt fail
With Tata Group’s talks with the British government on a financial rescue package failing, the conglomerate has to look for a strategic partner for Jaguar Land Rover (JLR) and sell its UK steel plant lock, stock, and...
Tata Steel offers UK taxpayers 50% stake in Port Talbot plant: Report
Tata Steel is reportedly offering the British taxpayer a 50 per cent stake in its Port Talbot steelworks in Wales as part of efforts to secure government backing to secure the future of the business in the wake of the...
