M&A
JSW Group’s JV buys Thyssenkrupp Electrical Steel for Rs.4,051-Cr
BSE Announcement Business Line
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.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
