Creditors to Bhushan Power & Steel, including State Bank of India, Punjab National Bank, and Asset Care Reconstruction Enterprise (ACRE), are assessing the legal paths available to them after the Supreme Court...
Government to finalise view on liquidation of Bhushan Power and Steel soon, says DFS Secretary
The government is reviewing the Supreme Court’s order on liquidation of Bhushan Power and Steel Ltd and it will take a view on the matter based on the discussions with the senior government advocates, said M...
IBC rules under review after scrapping of JSW Steel’s BPSL acquisition
India is reviewing its insolvency regulations to ensure strict adherence to stipulated processes and timelines by key stakeholders to prevent cases like JSW Steel’s acquisition of Bhushan Power and Steel (BPSL)...
Thyssenkrupp explores exit options for materials trading unit, Bloomberg News reports
Germany’s ThyssenKrupp AG is exploring exit options for its materials trading subsidiary that could be valued at as much as 2 billion euros ($2.21 billion), Bloomberg News reported on Wednesday, citing people...
Trump orders fresh review of Nippon Steel’s bid for US Steel
President Donald Trump on Monday directed a U.S. national security panel to take a fresh look at Nippon Steel’s bid for U.S. Steel to help determine if “further action” is appropriate, raising hopes...
Jindal Steel to acquire Allied Strips for Rs 217.5 crore
Jindal Steel and Power has acquired Allied Strips Limited (ASL), a Haryana-based manufacturer of steel-based products, for Rs 217.53 crore in cash. The acquisition was done through Jindal Steel Odisha (JSO), a wholly...
Radha Smelters receives NCLT’s nod to acquire GVK Gautami Power
The National Company Law Tribunal (NCLT) has approved steel manufacturer Radha Smelters Pvt Ltd’s resolution plan to acquire GVK Gautami Power Ltd through the insolvency resolution process. The Hyderabad-based TMT...
India steel minister says no decision on KIOCL, NMDC merger
India has not taken any decision to merge KIOCL and NMDC, junior Steel Minister Bhupathiraju Srinivasa Varma said in a written response in parliament on Tuesday. The steel ministry had proposed a merger of the miners in...
Jindal Steel said to raise bid for Italian steelmaker to €4 billion
Jindal Steel raised its offer for a troubled Italian steelmaker to about €4 billion ($4.2 billion), seeking to outbid rivals from Azerbaijan, people familiar with the matter said. The Indian steelmaker’s latest proposal...
Tata Steel acquires equity stake worth Rs 10,727-cr in subsidiary, TSHP
Tata Steel said that it has acquired 788,53,50,318 ordinary equity shares of face value $ 0.157 each aggregating to $1,238 million (Rs 10,726.85 crore) in T Steel Holdings (TSHP). T Steel Holdings (TSHP) is a wholly...
CCI clears Nippon Steel, JFE Steel’s proposal to collectively acquire stakes in Australian coal mine
Fair trade regulator CCI on Tuesday said it has approved a proposal of Japanese steelmakers Nippon Steel and JFE Steel to collectively acquire a 30 per cent stake in Queensland’s Blackwater coal mine. “The...
Spanish group from Basque Country agrees to buy 29.7% of Talgo
A Spanish consortium from the Basque Country, made up of shareholders in steel maker Sidenor, the regional government and local lender Kutxabank, has reached an agreement to buy 29.7% of train maker Talgo, Talgo said on...
