JSW Steel is all set to sign a term sheet with Algerias Cevital to buy Italys second largest steel firm Aferpi for almost Rs. 600 crore
JSWs senior officials are in Italy and a term sheet is likely to be signed tomorrow, a source told
The Hindu.
The government will announce the deal after the term sheet is signed, the added. Cevital had bought Italian steel firm Lucchini in 2014 and renamed it Aferpi. Lucchini, which was then owned by Russias Severstal, was declared insolvent in 2012.
JSW Steel is also set to acquire Monnet Ispat & Energy as the lenders had cleared the financial bids and were evaluating the technical bids. The winner would be announced in a couple of weeks, according to sources.
JSW Steel along with Aion Capital Partner…
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