Chinese steelmaker Jingye Group said it will complete its buyout of British Steel, with 1.2 billion pounds ($1.5 billion) of investment, despite uncertainty over the control of British Steel’s French unit. Jingye said...
Kotak Fund invests Rs 500 crore in debt-laden Jindal Stainless
Kotak Investment Advisors-managed Kotak Special Situations Fund (KSSF) on Monday announced an investment of Rs 500 crore in Jindal Stainless Limited (JSL) in the form of debt and equity. This will help the stainless...
JSW Steel’s $2.7-billion buy of Bhushan Power & Steel faces legal test
JSW Steel’s $2.7-billion purchase of a bankrupt steel mill is facing a fresh hurdle after a former chairman of Bhushan Power & Steel challenged the deal in the country’s top court. Sanjay Singal filed a petition on...
Buyout firms finesse bids for Thyssenkrupp deal deadline-sources
Two investor groups bidding for Thyssenkrupp’s 16 billion euros ($17.4 billion) elevator business are making last-minute tweaks to their binding offers this week and could nudge them higher, people familiar with the...
Bhushan Power acquisition: JSW Steel likely to pay Rs 19,700 cr by March 15
JSW Steel is all set to wrap up one of the long-drawn and high profile insolvency resolution cases, as it is likely to pay Rs 19,700 crore to acquire the bankrupt Bhushan Power and Steel Ltd by March 15, sources said...
Second time lucky: Liberty House acquires Adhunik Metaliks in cash deal
In an all-cash deal, Sanjeev Gupta-led Gupta Family Group (GFG) Alliance, which owns Liberty House, has acquired bankrupt Adhunik Metaliks and Zion Steel for ₹425 crore ($60 million) under the Insolvency and Bankruptcy...
NCLAT gives approval to JSW Steel to acquire Bhushan Power
The National Company Law Appellate Tribunal (NCLAT) has allowed JSW Steel to acquire Bhushan Power and Steel for Rs 19,700 crore under the insolvency law, providing immunity to the new owners from ongoing criminal...
Govt plans to sell 5% stake in SAIL via OFS, may rake in Rs 1,000 crore
The government is planning to sell 5 per cent stake in Steel Authority of India Ltd (SAIL) through an offer for sale, which could fetch about Rs 1,000 crore to the exchequer, an official said. Officials from the...
JSW Steel keen on acquiring more iron ore mines in Odisha
JSW Steel is closely watching all the upcoming iron ore mine auctions, as the company is in the final stages to acquire land in Odisha for a proposed greenfield project, a top executive said. “We remain interested in...
ArcelorMittal makes $1.6 bn equity contribution for Essar Steel acquisition
ArcelorMittal’s equity contribution for the acquisition of Essar Steel India (now AM/NS India) is $1.6 billion, the company said while announcing its 2019 financial results. Described as its biggest achievement in...
BPSL Fraud: NCLAT reserves decision on immunity to JSW
An appellate tribunal on Tuesday reserved its judgement on the contentious matter of whether JSW Steel, the successful bidder for debt-ridden Bhushan Power and Steel, would have immunity from offences committed by the...
Govt pushing for demerger of NMDC’s Chhattisgarh steel venture
The central government’s disinvestment arm is pushing for a demerger of NMDC’s steel venture in Chhattisgarh and a strategic stake sale of the unit despite objections from the steel ministry, people in the know of...
