 "JSW-Piramal mull joint bidding of stressed assets")
Sajjan Jindal-controlled JSW Steel is in discussion with Piramal Enterprises for a partnership that could result in a joint bidding of assets currently going through the insolvency process.
According to the contours of the arrangement, Piramal Enterprises would provide the funding and JSW Steel the management to the assets once they come up for bidding.
JSW Steel is interested in bidding for stressed assets in the steel sector. Jindal’s son, Parth Jindal, recently said in Kolkata, “We are very keen on Bhushan Steel and Monnet Ispat. At the right price, even Essar would be attractive.”
Ajay Piramal, chairman, Piramal Enterprises, had told Business
