You are here: Home » News-CM » Companies » News
Business Standard

Jindal Steel & Power (Mauritius) set to divest its entire stake in JSIS Oman

Capital Market 

Jindal Steel & Power announced that its wholly owned subsidiary, Jindal Steel & Power (Mauritius) (JSPML) has accepted a binding offer from Templar Investments, Mauritius (Acquirer), a promoter group entity, to divest its entire stake by way of sale of shares, in Jindal Shadeed Iron and Steel LLC, Oman (JSIS Oman), step-down material subsidiary of the Company.

The equity value of the transaction is US $ 251 million, which would be paid by the Acquirer through a mix of cash and taking over liabilities of JSPML.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, July 02 2020. 09:54 IST