JSW Steel to Buy US Based Acero Junction for $81 Million

JSW Steel to Buy US Based Acero Junction for $81 Million March 29, 2018

Mumbai: India’s JSW Steel Ltd said on Thursday it agreed to buy Acero Junction Holdings for $80.85 million, as it looks to expand its operations in the United States.

JSW Steel entered into a stock purchase agreement on Wednesday with JSM International Ltd, Acero Junction Holdings Inc and Acero Junction Inc for the acquisition, the steelmaker said in a statement

ALSO READ:GLOBAL TRADE WAR MAY IMPACT INDIA, SAYS ASSOCHAM

The deal comes shortly after the steelmaker’s U.S. unit signed an agreement on Monday with the Texas governor’s office to invest $500 million to build out its operations in Texas, amid heightened global trade tensions following U.S President Donald Trump’s decision to pursue steep import tariffs.

ALSO READ:GOVERNMENT ROPES IN IIFT, ICAI FOR IMPROVING ‘DOING BUSINESS’ RANKING

Loading...

No Comments so far

Jump into a conversation

No Comments Yet!

You can be the one to start a conversation.

Only registered users can comment.