Deals

Reuters reveals India’s JSW Steel examining bid for Gupta’s British business; market reacts

Shares of India’s largest steel producer, JSW Steel, fell nearly 4% in early trading after Reuters revealed that it was considering a bid to buy Liberty Steel in Britain, part of commodities tycoon Sanjeev Gupta’s sprawling global empire. JSW’s interest, which extends to plants including Gupta’s Adhunik steel mill in eastern India, could mark yet another chapter for Britain’s steel industry, which has been privatized and sold to overseas buyers as its pre-eminence slid in lock-step with the country’s manufacturing might.

Market Impact

Shares of India’s largest steel producer, JSW Steel, fell nearly 4% in early trading.



Article Tags
Topics of Interest: Deals
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Asia
Countries: India
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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