JSW Steel Tuesday went procedurally a step closer to acquiring an asset in bankruptcy-induced ownership change after the administrator overseeing the sale of Bhushan Power and Steel issued a letter of intent (LoI) in favour of India’s biggest maker of the alloy. JSW Steel had made a Rs 19,650-crore offer, which included upfront payment of Rs 19,300 crore, with another Rs 350 crore earmarked for operational creditors, according to sources close to the development.
— The Economic Times
L&L Partners advised
Cyril Amarchand Mangaldas advised the
Shardul Amarchand Mangaldas appeared for the
2019-02-08
Deal value: USD 2.8 billion
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