JSW Steel’s subsidiary - JSW Steel Italy S.r.l. has entered into a Sale and Purchase Agreement (SPA) on May 17, 2018 with Cevitaly S.r.l (Cevitaly), a company organized under the laws of Italy, for acquisition of 100% shares of Aferpi S.p.A (Aferpi), Piombino Logistics S.p.A (PL) and 69.27% of the share capital of GSI Lucchini S.p.A (GSI) for a cash consideration of 55 million euro on a cash free, debt free basis subject to closing adjustments including for working capital of the respective targets.
The above facilities are located in Piombino, Tuscany Province, Italy. The transaction is subject to fulfillment of conditions precedents and other customary terms generally applicable to such transactions as per the SPA.
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.
