26
Jul
15:19
JSW pays final tranche in Welspun steel acquisition
JSW Steel has completed the acquisition of the steel plate and pipe business of Welspun Corp by paying the last tranche of INR 86 crore ($11.96 million) of the total INR 848 crore deal.
The entire amount was to be paid on a slump-sale basis subject to fulfillment of certain conditions. JSW Steel has paid INR 225 crore in April 2021 and another INR 498 crore in June as part of the consideration for the acquisition, Kallanish notes.
“The balance consider…
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