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JSW Steel arm Periama acquires JSW USA, purchases remaining 10% stake

"Periama on December 18, 2023 (US time) completed the acquisition by purchase of the remaining 10 per cent stake in the Common stock of JSW USA," the filing said

steel company, steel firms, ArcelorMittal, JSW Steel

Press Trust of India New Delhi

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JSW Steel on Tuesday said its arm Periama Holdings LLC (Periama) has completed the acquisition of JSW USA by purchasing the remaining 10 per cent stake in its "common stock".

Periama Holdings LLC (Periama) is a wholly-owned subsidiary of domestic player JSW Steel.

"Periama on December 18, 2023 (US time) completed the acquisition by purchase of the remaining 10 per cent stake in the Common stock of JSW USA," the filing said.

Consequent to completion of this acquisition, Periama's shareholding in JSW USA has increased from 90 per cent (pre-acquisition) to 100 per cent (post-acquisition) and JSW USA has become a wholly-owned subsidiary of Periama and a step down wholly-owned subsidiary of JSW Steel, it said.

 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Dec 19 2023 | 2:42 PM IST

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