Jindal Stainless Limited (JSL) said its board of directors has approved the acquisition of Rabirun Vinimay Private Ltd which is under liquidation. The cost of the acquisition is Rs 96 crore, JSL said in a regulatory...
US Steel to be acquired for more than $14 billion by Nippon Steel
U.S. Steel, the Pittsburgh steel producer that played a key role in the nation’s industrialization, is being acquired by Nippon Steel in an all-cash deal valued at approximately $14.1 billion. The transaction is...
Tata Steel completes merger of S & T Mining Company with itself
Tata Steel said it has completed the merger of S & T Mining Company Ltd with itself. The scheme of amalgamation of S & T Mining Company Ltd (‘S&T Mining’) into and with Tata Steel Ltd was...
Automakers oppose Cleveland-Cliffs push to buy U.S. Steel
A group representing major automakers on Tuesday said the industry opposes steelmaker Cleveland-Cliffs’ proposed acquisition of U.S. Steel (X.N), saying it would increase auto industry costs and slow electric...
NCLT approves Tata Steel Long Products’ amalgamation with Tata Steel
Tata Steel Long Products Ltd on Thursday said the National Company Law Tribunal (NCLT) has approved the amalgamation of the company with Tata Steel Ltd. Tata Steel is to merge Tata Steel Long Products and six other...
Japan’s JFE Steel eyes stake in Teck’s coal business – sources
Japan’s JFE Steel Corp is in talks to buy a stake in the metallurgical coal business of Canada’s Teck Resources, two people aware of the development told Reuters, adding to the list of suitors that also...
Amalgam steel’s acquisition of topworth gets NCLT nod
The bankruptcy court has approved the acquisition of Topworth Steel and Power Pvt Ltd by Amalgam Steel and Power Limited. The company had admitted liability of about ₹3,499 crore, whereas the successful bidder proposed...
Vedanta to sell all its steel assets by March 2024: Anil Agarwal
India’s Vedanta Ltd is planning to complete the sale of its steel assets by March 2024, group chairman Anil Agarwal told CNBC TV 18 on Tuesday. The company began the review of its steel and steel raw material...
Thyssenkrupp in talks to sell up to 50% of steel unit to Czech billionaire, sources say
German industrial group Thyssenkrupp is in advanced talks to sell up to 50% of its steel division to Czech billionaire Daniel Kretinsky, two people with knowledge of the matter told Reuters. Thyssenkrupp resumed efforts...
JSW Steel firm Caretta Minerals to sell assets to West Virginia Properties for USD 24 mn
Caretta Minerals LLC, an asset of JSW Steel in the US, has entered into an agreement to sell its plant and equipment for a consideration of USD 24 million to West Virginia Properties. The deal also includes the sale of...
German govt considering minority stake in Thyssenkrupp marine unit – minister
The German government is considering taking a minority stake in Thyssenkrupp’s warship division Thyssenkrupp Marine Systems (TKMS), German Defence Minister Boris Pistorius said during a visit to Kiel on Tuesday...
Saudi’s SABIC to sell steel unit Hadeed to PIF for $3.3 billion
Saudi Basic Industries Corp said it had agreed to sell subsidiary Saudi Iron and Steel Company (Hadeed) to the Public Investment Fund (PIF) for an enterprise value of 12.5 billion riyals ($3.33 billion). The transaction...
