JSW Steel Ltd (JSTL.NS)
23 May 2018
BRIEF-JSW Steel's Consortium With AION Investments Identified As Successful Resolution Applicant For Buying Monnet Ispat & Energy
* CONSORTIUM OF CO AND AION INVESTMENTS PRIVATE II IDENTIFIED AS SUCCESSFUL RESOLUTION APPLICANT FOR ACQUISITION OF MONNET ISPAT & ENERGY
April 10 Creditors of India's Monnet Ispat and Energy Ltd have approved a joint bid https://www.bseindia.com/xml-data/corpfiling/AttachLive/25a29273-3b07-426f-90ae-85e03eb9da34.pdf from AION Investments and JSW Steel to take over the bankrupt firm, according to a regulatory filing on Tuesday.
March 29 India's JSW Steel Ltd said on Thursday it agreed to buy Acero Junction Holdings for $80.85 million, as it looks to expand its operations in the United States.
* ENTERS STOCK PURCHASE AGREEMENT WITH JSM INTERNATIONAL, ACERO JUNCTION HOLDINGS AND ACERO JUNCTION INC
* Investment to be completed by March 2020 (Adds details, analyst comment)
MUMBAI Tata Steel has offered to pay a little more than 350 billion rupees ($5.4 billion) to lenders of Bhushan Steel & Power to take over the bankrupt steelmaker, a source with direct knowledge of the deal said.
* Bhushan Steel among 12 big loan defaulters in bankruptcy court (Adds deal value from source, other details)
TOKYO JFE Holdings Inc, parent of Japan's second-biggest steelmaker, plans to spend more than 650 billion yen (£4.3 billion) over the next three years upgrading domestic production facilities in a bid to raise productivity and competitiveness.
* Sees China demand solid in 2018, slower from next year (Recasts with strategy on lighter automotive steel)