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JSW Steel and AOIN consortium declared successful resolution applications

Capital Market 

For acquisition of Monnet Ispat & Energy

Steel announced that and (AION) (together as a consortium) had submitted a bid for (MIEL) under the corporate resolution process of the and Code 2016.

This consortium has been declared as the successful resolution applicant by the of MIEL on 10 April 2018, and has received a Letter of Intent (LoI) dated 12 April 2018. The consortium has accepted the terms of the LoI.

The closure of the transaction shall be subject to obtaining necessary regulatory approvals, including from the and the

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

First Published: Thu, April 12 2018. 15:55 IST