MoneyWorks4Me

Usha Martin’s arm to acquire 2.02% stake in USSIL

07 Dec 2024 Evaluate

Usha Martin’s wholly owned subsidiary -- Usha Martin Americas Inc. (UMAI) has entered into an agreement to acquire 2.02% of the share capital of Usha Siam Steel Industries Public Company (USSIL), a subsidiary of the company from Kobelco Wire Company. 

Subsequent to the acquisition of the said shares by UMAI, USSIL shall become a step-down wholly owned subsidiary of the company. The cost of acquisition is around Baht 14.25 million.

Usha Martin is one of the world’s leading manufacturer of wire rope.


Peers
Company Name CMP
JSW Steel 1230.00
Tata Steel 179.10
Steel Authority 174.00
Jindal Stainless 732.40
APL Apollo Tubes 2119.90
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