21
Jul
11:12
JSL acquires 100% stake in Jindal United Steel
Jindal Stainless (JSL) completed the acquisition of Jindal United Steel (JUSL) on 20 July. Earlier, JSL had held a 26% stake in JUSL. It has now acquired the remaining 74% equity stake in JUSL for a cash consideration of INR 958 crore ($116.88 million).
The transaction makes JUSL a 100%-owned subsidiary of JSL, the latter informs in a press release seen by Kallanish.
"Given the strong outlook on stainless steel and the association of JUSL and JSL, the board …
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Very good overview of the weekly steel market.
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