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...
Steel
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...
ArcelorMittal, Resurgent said to mull joint bid for Essar plant
ArcelorMittal is exploring a joint offer with Resurgent Power Ventures Pte to buy an Essar Power generation plant in India, according to people with knowledge of the matter. The companies have held preliminary talks on...
UK high court orders British Steel into liquidation
The UK high court on Wednesday ordered British Steel, the UK’s second largest steel producer into compulsory liquidation. A report by S&P Global Platts on Thursday said according to a statement from the...
NCLAT reserves order on ArcelorMittal takeover of Essar Steel
An appellate tribunal has reserved a final order on appeals against Arcelor Mittal’s Rs 42,000 crore resolution plan for debt laden Essar Steel. A two-member bench of the National Company Law Appellate Tribunal...
ArcelorMittal to pay Rs 42,000 cr for Essar Steel takeover
Global steel major ArcelorMittal Monday told the National Company Law Appellate Tribunal (NCLAT) that it would pay Rs 42,000 crore, including a minimum of guarantee of Rs 2,500 crore as working capital, for acquiring...
