Indian steelmaker JSW Steel has announced that it has acquired a 26 percent stake in Punjab-based Vallabh Tinplate Pvt Ltd (VTPL), fulfilling the customary closing conditions and third party consents.
As SteelOrbis previously reported, in February this year JSW Steel? announced its plans to buy a 50 percent stake in VTPL for INR 460 million ($7.6 million) in two phases. Acquisition of the 26 percent stake marks the completion of the first phase.
VTPL is currently operating a 60,000 mt per year tinplate manufacturing facility in the Patiala district in Punjab.
Source:
http://www.steelorbis.com/steel-news/latest-news/jsw-steel-acquires-26-percent-stake-in-indian-tinplate-producer-822658.htm
