M&A

M&A

JSW Steel to exit Italy partially, plans to retain rail mill

Business Line  

JSW Steel is looking for opportunities to disinvest its Italian assets and retain only the rail mill. In 2018, JSW Steel had acquired the entire stake in Italian businesses – Aferpi SpA and Piombino Logistics SpA – and 69% in GSI Lucchini SpA for EUR 55 million (INR 440 crore). The company is now not keen to make further investment there to set up an electric arc furnace and produce billets to feed its units. The rail mill however can be sustained by supplying billets from India.