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...
Steel
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...
Govt approves demerger of Nagarnar steel plant from NMDC
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...
