Reuters reveals India’s JSW Steel examining bid for Gupta’s British business; market reacts - Reuters News Agency
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
FILE PHOTO: The logo of JSW is seen on the company's headquarters in Mumbai, India, February 11, 2016. Indian conglomerate JSW Group, whose businesses range from power to steel and cement, is looking to buy debt-laden port assets in the country as part of a strategy for a massive expansion of its ports capacity, its chief financial officer said. Picture taken February 11, 2016.  REUTERS/Danish Siddiqui/File Photo
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