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Monnet Ispat agrees to offload holding in Orissa Sponge

26 Aug 2015 Evaluate

Monnet Ispat and Energy has agreed ‘in-principle’ to offload its holding in Orissa Sponge Iron & Steel (OSISL), which owns iron ore reserves in the Odisha to Bhushan Steel (BSL). However, no commercial terms and valuations have been finalised.

Recently, Bhushan Steel had announced that it is in talks with Monnet Ispat to acquire 35% stake in OSISL.

Monnet Ispat & Energy is engaged in the business of sponge iron, steel ingot & billets and coal mining.

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