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Jindal Saw’s arm to acquire assets of PSL-North America

21 Aug 2014 Evaluate

Jindal Saw through its step-down subsidiary, Jindal Tubular USA LLC has entered into an asset purchase agreement on June 16, 2014 with PSL-North America LLC for the acquisition of identified assets and liabilities of PSL-North America LLC. The acquisition is expected to be completed on or prior to August 16, 2014.

The acquisition was subject to the outcome of voluntary petition for relief filed by PSL-North America LLC under Chapter 11 of Title 11 of the United State Code in the US Bankruptcy Court for District of Delaware including counter bids by various other bidders and possible objection by lender and creditors of PSL-North America LLC.

The United States Bankruptcy Court for the district of Delaware has passed an order on August 15, authorising and approving the sale of substantially all of PSL North America’s assets to Jindal Tubular in accordance with the terms of asset purchase agreement, free and fair of all liens, claims, encumbrances and other interests

Jindal Saw is in a commanding position in India's tubular market, being the undisputed leader with a turnover in excess of Rs 7,000 crore. The business operations are highly structured with three strategic business units: large diameter pipes, seamless tubes, and DI (ductile iron) pipes. Every SBU has its own dedicated sales and marketing targets and operations.

Jindal Saw Share Price

240.00 3.15 (1.33%)
20-Apr-2026 16:59 View Price Chart
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