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JSW Techno Projects buys 49% in pellets firm for Rs 1,000 crore

Deal via promoter firm, perhaps with eye on possible bids for assets with NCLT

JSW Techno buys 49% in pellets firm for Rs 1,000 cr

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Aditi Divekar Jayajit Dash Mumbai/Bhubaneswar

Last Updated : Dec 19 2017 | 12:18 AM IST

JSW Group, via promoter group company JSW Techno Projects Management, has acquired 49 per cent stake in Odisha-based Brahmani River Pellets (BRPL) in a deal estimated at over Rs 1,000 crore.

JSW Techno, not a listed entity, has executed an agreement with Aryan Mining and Trading Corporation for acquiring stake in BRPL. Currently, JSW Techno holds 9.5 per cent stake in JSW Steel. Sources did not reveal reasons for the acquisition through a promoter group company, instead of via JSW Steel, which has larger synergies with the acquired assets. BRPL makes iron ore pellets — it owns a four million

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