M&A M&A
JSW Group’s JV buys Thyssenkrupp Electrical Steel for Rs.4,051-Cr
Source Business Line (opens in a new tab)BSE Announcement (opens in a new tab)
JSW JFE Electrical Steel - a 50:50 joint venture of publicly listed JSW Steel and Japan’s JFE Steel Corporation - via its wholly-owned subsidiary Jsquare, has acquired thyssenkrupp Electrical Steel India Pvt Ltd (tkES India) for INR 4,051 crore. Avendus Capital advised the acquirer.tkES India, an unit of Germany-headquartered Thyssenkrupp, has a manufacturing facility in Nashik, Maharashtra, to produce grain-oriented electrical steel, used in the production of energy-efficient transformers, high-performance generators and motors. The turnover of tkES India was down marginally at INR 1,271 crore last fiscal against INR 1,275 crore logged in the previous year.