JSW Steel on Friday said it has completed the acquisition of the remaining 26.45 stake of JSW Vallabh Tinplate Pvt Ltd.
With this, JSW Vallabh Tinplate Pvt Ltd is now a wholly-owned subsidiary of the company, JSW Steel said in a filing to the BSE.
“The company has now completed the acquisition by acquiring the aforesaid balance 26.45 per cent of the issued and paid-up share capital of JSW Vallabh Tinplate Pvt Ltd,” the filing said.
JSW Steel’s shareholding in JSW Vallabh Tinplate Pvt Ltd is 100 per cent, the filing said.
The company had entered into a legally binding share purchase agreement to acquire, in one or more tranches, 1,32,37,227 equity shares of Rs 10 each. It represents 26.45 per cent of the issued and paid-up share capital of JSW Vallabh Tinplate Pvt Ltd, from the existing third-party shareholders of JSW Vallabh Tinplate Pvt Ltd, the filing said.