Announced
Financials
Sources
Tags
India
produce grain-oriented electrical steel
Iron and Steel
Acquisition
Cross Border
Joint Venture
Majority
Private
Pending
Friendly
Single Bidder
Synopsis
JSW Steel, a multinational steel producer, and JFE Steel, a steel manufacturer, agreed to form JSW JFE Electrical Steel, a grain-oriented electrical steel company, in a $670m deal. "This collaboration is a milestone development, as it would be the first company to have end-to-end manufacturing of grain-oriented electrical steel products in India. The JV aspires to cater to the surging domestic demand for grain-oriented electrical steel and contribute significantly to the country's energy infrastructure," JSW Steel.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.