Breaking News

You are here » Indian-Commodity  :  Corporate  :  JSW Steel enters into agreement to acquire Acero Junction Holdings

31-Mar2018

JSW Steel enters into agreement to acquire Acero Junction Holdings

JSW Steel has entered into a stock purchase agreement on March 28, 2018 with JSM International, Acero Junction Holdings Inc. and Acero Junction Inc. for acquisition of 100% shares of Acero Junction Holdings Inc., a Delaware Corporation, for a cash consideration of $80.85 million.

The transaction is subject to fulfillment of conditions precedent and other terms as per the Stock Purchase Agreement, with a long stop date of May 31, 2018. The total Enterprise Value of the transaction is about $180.35 million, with equity value of $80.85 million and liabilities of $99.5 million, subject to closing adjustments. The acquisition shall be funded by way of a combination of internal accruals from JSW and debt to be raised at Acero Junction Inc.

JSW Steel is a part of the diversified $12 billion JSW Group, which has a presence in Steel, Energy, Infrastructure, Cement, Ventures and Sports.



Related News

View all news

MRF's workers call strike at Tiruvottiyur plant

MRF's workers are on strike at manufacturing plant at Tiruvottiyur near Chennai, since February 2. The strike is illegal and the notice of the strike, including reasons for the same, has not been served......

Linde India reports 62% rise in Q4 net profit

Linde India has reported results for fourth quarter ended December 31, 2018. The company has reported a rise of 61.97% in its net profit at Rs 15.42 crore for the quarter under review as compared to Rs......

Valecha Engineering reports net loss of Rs 15.98 in Q3

Valecha Engineering has reported results for third quarter ended December 31, 2018. The company has reported a net loss of Rs 15.98 crore for the quarter as compared to net loss of Rs 13.19 crore for the......

Top News

View all news

Tata Motors signs LTS agreement with its employees

Tata Motors has signed a long-term wage settlement (LTS) agreement with its employees. Under the agreement, workmen will get a wage rise of Rs 9,000 per month along with other incentives based on performance.......

Canara Bank invites bids from merchant bankers to manage its $350-500 million MTN issue: Report

Canara Bank has reportedly invited bids from merchant bankers to manage its $350-500 million issue of senior unsecured/tier-II capital bonds under its medium-term note (MTN) programme. The issue size may......

Alembic Pharma gets USFDA's nod for Acetazolamide Extended-Release Capsules

Alembic Pharmaceuticals (Alembic) has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Acetazolamide Extended-Release Capsules, 500......