Vedanta has initiated a strategic review of its steel and steel raw materials businesses and may sell a part or all of these businesses. The natural resources conglomerate is looking to sell Electrosteel Steels a little...
Czech billionaire eyeing stake in Thyssenkrupp steel division
Czech billionaire Daniel Kretinsky is interested in acquiring a stake in Thyssenkrupp’s steel business, which is currently looking for a buyer or co-owner, a person familiar with the matter told Reuters on Friday...
LIC raises stake in SAIL by 2%
State-run insurer Life Insurance Corp of India (LIC) has hiked its stake by 2% in Steel Authority of India Ltd (SAIL) between October, 2021 and March 2023, according to an exchange filing. With the increase in stake...
Trinidad’s TTIS agrees to buy idled steel plant from ArcelorMittal
Trinidad and Tobago’s TT Iron Steel Company (TTIS) has agreed to purchase an idled iron and steel plant in the country from a unit of Luxembourg-listed multinational ArcelorMittal, the Trinidadian company said...
Financial bids for NMDC Steel likely by August
The government will likely invite financial bids for a 50.79% stake in NMDC Steel “within a month or two” after the operationalisation of the company’s new plant in Chhattisgarh is over by June, a person familiar with...
JSW Steel to acquire National Steel and Agro for Rs 621 crore
JSW Steel will acquire flat-steel producer National Steel and Agro Industries (NSAIL) through the bankruptcy court for a cash consideration of ₹621 crore through its wholly-owned subsidiary JSW Steel Coated Products...
Italy’s Marcegaglia buys Russian steelmaker Severstal’s Latvia unit
Marcegaglia has acquired Russian steelmaker Severstal’s unit in Latvia, the Italian steel firm said on Friday, after sanctions on Severstal’s main shareholder made it impossible for the business to operate...
NCLT approves AM Mining India’s resolution plan for Indian Steel Corporation
ArcelorMittal India on Monday said a resolution plan submitted for Indian Steel Corporation by its arm AM Mining India has been approved by the NCLT, Mumbai. In a statement, ArcelorMittal India Pvt Ltd said it...
Disinvestment process of RINL is under progress
There is no freeze on the disinvestment process of RINL, the Steel Ministry clarified on Friday. Clarifying some media reports regarding the hold on the disinvestment process of the state-owned steel maker, the...
Bankruptcy court clears ArcelorMittal unit’s plan for Indian Steel Corp
A bankruptcy court approved the application of the world’s largest steelmaker, ArcelorMittal, to acquire Indian Steel Corp. The Mumbai bench of the National Company Law Tribunal (NCLT), comprising judicial member Kuldip...
Naveen Jindal’s Nalwa top bidder for McNally Bharat
Naveen Jindal-promoted Nalwa Steel and Power emerged as the highest bidder for McNally Bharat Engineering, outbidding BTL EPC (formerly Bengal Tools EPC) at an auction that ended, said two people aware of the...
Jindal Saw’s bid to acquire Sathavahana Ispat okayed
A bankruptcy court has approved Jindal Saw’s application to acquire listed steel maker Sathavahana Ispat through the insolvency resolution process. Prithviraj Jindal- promoted Jindal Saw has proposed to pay ₹694...