31
Jan
10:18
Tata Steel Long Products to acquire NINL
The Indian government has approved the sale of a 93.71% stake in Neelachal Ispat Nigam (NINL) at the bid enterprise value of INR 12,100 crore ($1.62 billion) to Tata Steel Long Products (TSLP).
In response to the expression of interest (EOI) invited by the ministry on 25 January, three companies, including TSLP, a consortium of JSPL and NALWA, and JSW, submitted their bids.
According to the finance ministry, a letter of intent is being issued to TSLP, inviting th…
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Very good overview of the weekly steel market.
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