M&A
Sandur Manganese to acquire addl 20% to take full control of Arjas Steel
Publicly-listed Sandur Manganese and Iron Ore has acquired an additional 20% stake in Arjas Steel Pvt Ltd (ASPL) at an enterprise Value of INR 3,000 crore. Post acquisition, Sandur Manganese will hold 99.12% stake in ASPL.ASPL has a wholly owned subsidiary, Arjas Modern Steel Pvt Ltd (AMSPL), which has an electric arc integrated steel plant located in Mandi Gobindgarh, Punjab. The said acquisition of equity shareholding in ASPL shall also result in the indirect acquisition of AMSPL.
In Apr 2024, Sandur Manganese and Iron Ore had acquired 80% stake in Arjas Steel Pvt Ltd.
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