The four-member Cabinet Sub-Committee set up by the State Government to give its views on the sale of land to JSW Steel in Sandur taluk of Ballari district has not arrived at any decision on the subject, Social Welfare...
Steel
Thyssenkrupp weighs elevator stake sale as buyers circle
ThyssenKrupp AG has received interest from competitors and buyout firms for a stake in its 15 billion-euro ($16.8 billion) elevator unit, prompting the German industrial firm to explore a sale alongside its planned...
SAIL reinvites EOIs to sell three loss-making units
In order to get rid of three operational loss-making units, Steel Authority of India (SAIL) has invited expressions of interest (EoIs) from potential bidders for outright sale of these units. A similar attempt in 2017...
Tata Steel to subscribe up to 90% of Tata Sponge Rs 1,650 cr rights issue
Tata Steel will subscribe up to 90 per cent of the Rs 1,650 crore rights issue of Tata Sponge. In an intimation to the stock exchanges, Tata Sponge has informed that its promoter (Tata Steel) has undertaken that it will...
NCLAT clears ways for takeover of Essar Steel by ArcelorMittal
The appellate bankruptcy court on Thursday approved ArcelorMittal’s Rs 42,000-crore offer for Essar Steel, rejecting its former promoters’ claim that the Luxembourg-based steelmaker was ineligible to acquire the Indian...
Tata Steel set to raise $500 million via foreign loans
Tata Steel is raising as much as $500 million through syndicated overseas loans to fund expansion and refinance debt, said people with knowledge of the matter. Three-fourths of the amount will be used for the Rs 23,500...
Liberty Steel acquires ArcelorMittal assets in Europe for 740 million euros
Liberty Steel Monday said it has acquired seven steel making units and five service centres from L N Mittal’s ArcelorMittal in Europe for 740 million euros (around Rs 5,782 crore), according to a company statement...
Network Rail makes indicative offer for some British Steel assets
Britain’s Network Rail said on Sunday it has made an indicative offer for some “railway critical” assets of British Steel, the country’s second-largest steel producer which went into liquidation last month. State-owned...
JSW Steel’s offer for Asian Colour Coated Ispat gets lenders’ nod
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...
