India’s second largest private steel manufacturer, JSW Steel, plans to launch up to $500 million in dollar-denominated bonds, the company told stock exchanges on Tuesday. This is part of the company’s plan...
NCLAT to hear probe agencies over JSW Steel’s plea on Bhushan Power
The National Company Law Appellate Tribunal (NCLAT) will hear three probe agencies, including ED and SFIO, regarding JSW Steel’s plea seeking immunity from prosecution after buyout of Bhushan Power and Steel...
JSW Steel files appeal at NCLAT to modify takeover terms of Bhushan Power
JSW Steel has filed an appeal at the National Company Law Tribunal, contesting the conditions of its takeover of bankrupt steel mill Bhushan Power and Steel (BPSL). The appeal is expected to come up for hearing on...
ArcelorMittal to explore sale of construction business
ArcelorMittal, the world’s biggest steelmaker, is exploring a sale of a downstream construction business as it divests peripheral operations, people familiar with the matter said. The company is working with advisers to...
British Steel unit sold to France’s Systra to save jobs: Official Receiver
One of British Steel’s units, TSP Projects, has been sold to the UK subsidiary of French engineering group Systra, a move that will save over 400 jobs, Britain’s Official Receiver said on Friday. The Official Receiver...
Chinese steel maker picks additional 24% stake in Global Switch ahead of IPO
Chinese steel maker Jiangsu Shagang Group Co Ltd bought a further 24% stake in Global Switch Holdings for 1.8 billion pounds ($2.21 billion), making it the largest shareholder with a 49% stake, the UK-based data center...
Thyssenkrupp challenges EC’s decision to stop JV with Tata Steel
Thyssenkrupp of Germany has said it has filed a complaint with the General Court of the European Union (EGC) against the European Commission’s decision to prohibit its joint venture in Europe with Tata Steel. The...
Nithia Capital identifies Indian stressed steel assets for acquisition
Nithia Capital, a UK-based alternative investment manager that specialises in turning around underperforming facilities, has identified around 15 stressed steel assets in India for acquisition. While Nithia has zeroed...
Thyssenkrupp in talks to buy steel trader Kloeckner: Handelsblatt
German industrial group Thyssenkrupp is in talks to buy metals distributor Kloeckner & Co in a move to strengthen its materials trading business, Handelsblatt reported on Thursday citing sources familiar with the...
Tribunal dismisses appeals against Monnet Ispat Resolution plan
An appellate tribunal on Monday dismissed appeals by some creditors of steelmaker Monnet Ispat & Energy against a Rs 2,875-crore resolution plan offered by AION Investments and JSW Steel. The Mumbai bench of the...
Turkey’s military pension fund reaches British Steel deal
Turkey’s military pension fund OYAK has reached a provisional agreement to take over British Steel and could close the deal by the end of this year, potentially saving thousands of jobs. The British government welcomed...
Steel executives’ guild urges PM Modi for ‘hassle-free’ SAIL-NINL merger
Neelachal Ispat Nigam Ltd (NINL) which is in the dumps following its lead promoter MMTC’s decision to exit the public sector steel unit, has elicited support from a confederation of steel executives. Kolkata-based...
