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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.



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