M&A

M&A

JSW Steel unit will increase stake in Aussie coal producer M Res NSW to 83.3%

Economic Times  

JSW Steel will purchase an additional economic interest in M Res NSW HCC Pty Ltd (M Res NSW) for USD 60 million through its subsidiary JSW Steel (Netherlands), effectively increasing its stake in Australia-based Illawarra Metallurgical Coal.The acquisition will allow JSW Steel to purchase additional coking coal from Illawarra Metallurgical Coal.The steelmaker had already acquired a 66.67% economic interest in M Res NSW last year.