JSW Steel reinitiates talks to buy Italian steel company: Report

JSW Steel Ltd. | Steel & Iron Products | Metals & Mining | BSE: 500228 | NSE: JSWSTEEL

28 Aug 2017 Evaluate

JSW Steel has reportedly restarted talks to buy Lucchini SpA, the second largest steel producer in Italy. In 2014, JSW Steel had made a bid to acquire Lucchini, however, Algeria’s Cevital Group acquired it the following year and renamed the company Aferpi (Acciaierie e Ferriere di Piombino) SpA.

Currently, the company is in talks with Cevital Group to acquire Aferpi for a valuation of $100 million (Rs 640 crore).

JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.

Peers

Company Name	CMP
JSW Steel	1230.00
Tata Steel	183.40
Steel Authority	173.15
Jindal Stainless	724.60
APL Apollo Tubes	2115.85
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