JSW Steel through its wholly owned subsidiary, JSW Natural Resources, has executed Quotas Sale Agreement, Assignment of Contractual Position Agreement and other transaction related documents (Transaction Agreements) to acquire 92.19% equity stake and shareholders loans of Minas de Revuboe (MDR). The completion is subject to receipt of regulatory approvals and satisfaction of other conditions precedent as per the Transaction Agreements.
The aggregate purchase consideration for acquisition of 92.19% equity stake and shareholders loans of MDR is $73.75 million subject to closing adjustments.
Recently, the company received Board of Directors’ approval for the acquisition of upto 100% of Minas de Revuboe.
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.
| Company Name | CMP |
|---|---|
| Tata Steel | 212.05 |
| JSW Steel | 1239.90 |
| SAIL | 173.50 |
| Jindal Stainless | 787.90 |
| APL Apollo Tubes | 2105.45 |
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