JSW Steel has moved closer to acquiring distressed Asian Colour Coated Ispat with around 80% of the lenders represented by a committee of creditors (CoC) having voted in favour of the company’s resolution plan on...
Thyssenkrupp sticks to elevator listing plan amid bid talk
ThyssenKrupp is sticking to plans to list a minority stake in its elevator unit, the group’s chief executive said on Wednesday, amid renewed speculation that Finland’s Kone could bid for the division. “We want to list a...
After Uttam Galva, UK’s Nithia Capital keen to bid for Visa Steel
Nithia Capital Resources, a London-based distressed assets advisory that has emerged as the successful bidder for the distressed companies of Uttam Galva along with CarVal Investors, is also interested in acquiring Visa...
Sanjeev Gupta’s Liberty Steel acquires Johnstown Wire Technologies in US
Indian-origin metals tycoon Sanjeev Gupta-owned Liberty Steel Tuesday said it has acquired Johnstown Wire Technologies (JWT), North America’s largest producer of value-added carbon and alloy wire. The company...
EU’s anti-trust authority blocks merger plan of Tata Steel, ThyssenKrupp
The EU’s powerful antitrust authority on Tuesday blocked the merger of German industrial conglomerate ThyssenKrupp with Indian steel giant Tata, an expected veto that kills the deal. “We prohibited the...
JSW Steel gets NCLT approval for amalgamation plan
JSW Steel has received approval from the National Company Law Tribunal (NCLT) for the scheme of amalgamating its four units. The company has merged Dolvi Minerals and Metals with Dolvi Coke, JSW Steel Processing Centres...
JSW Steel weighs British Steel’s prospects ahead of likely bid
Sajjan Jindal-promoted JSW Steel Ltd is weighing options for British Steel Ltd after the UK company’s liquidation advisor EY reached out to it, a person aware of the development said. A team from JSW Steel, India’s...
Vying for steel assets: Did Arcelor really pay more for Essar Steel?
In an exclusive interview with ET, Sajjan Jindal, chairman of JSW SteelNSE 0.67 %, the largest Indian steelmaker by market capitalization, said that his budget for the alloy-maker may have been just about half of what...
China Baowu Steel to take majority stake in rival Magang
China Baowu Steel Group, the world’s second-largest steel producer, will acquire a majority stake in rival Magang Group Holding Co Ltd as China pushes for consolidation in its steel industry. In a statement posted on...
Tata Steel completes acquisition of Bhushan Energy for Rs 800 crore
Tata Steel Saturday announced that it has completed the acquisition of debt-ridden Bhushan Energy Ltd. The announcement came after the National Company Law Tribunal (NCLT) approved the resolution plan of Tata Steel to...
As JV talks with ArcelorMittal face delay, SAIL starts looking for options
As the talks with ArcelorMittal to form auto-grade JV firm is getting delayed, state-owned SAILNSE -0.90 % has started talking to other global players, a top company official said. SAIL is already in talks with a few...
NCLT approves Tata Steel takeover of Bhushan Energy
The National Company Law Tribunal (NCLT) on Thursday approved the resolution plan of Tata Steel NSE -0.47 % to acquire debt-ridden Bhushan Energy Ltd for around Rs 800 crore. The principal bench of NCLT Delhi also...
