Three years after losing the race to acquire Italy’s second-largest steelmaker, JSW Steel is set to make a comeback. The Sajjan Jindal-company is expected to sign a deal with Cevital – to whom it had lost out in 2014 – to buy Aferpi.
Cevital, the largest privately-held group in Algeria, had bought Lucchini in 2014 and renamed in Aferpi. Lucchini was then owned by Russia’s Severstal and was declared insolvent in 2012.
JSW Steel is likely to sign the agreement on Thursday for the deal, which is estimated to be about Rs 500 crore. Some of its top officials are present in Italy. Read More…
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