Jindal Steel & Power Ltd. will buy Shadeed Iron & Steel Co. of Oman for $464 million, including debt, in the third-biggest global purchase by an Indian steelmaker. Jindal Steel, has tied up $400 million of bank loans to fund the acquisition. The purchase includes liabilities of as much as $79 million.
Jindal Steel is expanding to the Middle East as
Shadeed is installing a 1.5 million-metric-ton sponge-iron plant at the
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1187 |
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