Earlier this month, the high court asked Sesa Goa and JSW Steel to re-bid.
Prior to Rio Tinto's $3.9-billion offer for Riversdale in December 2010, Tata Steel had 24.4 per cent stake in the company, now at over 26 per cent.
Four years after buying Novelis, a company three times its size, Hindalco is now banking on the Atlanta (US)-headquartered aluminium rolling and recycling major to fund its Rs 23,000-crore expansion plan in India.
After 15 months of negotiations, the Aditya Birla Group has finally agreed to buy out the US firm Columbian Chemicals Company (CCC) for $875 million from One Equity Partners, the merchant banking arm of JPMorgan Chase. This has catapulted the group to become the world leader in carbon black with a combined two million tonne annual production.
Ban fiats, freezes and new levies are ensuring a drying up of operations and new investments, complain companies.
NMDC Ltd has decided to set up its second steel plant in Chhattisgarh and is in talks with two companies to form a joint venture. One of them is Tata Steel.
The sudden surge in raw material prices has forced steel companies abroad to raise prices considerably but Indian counterparts have been unable to do so at such a pace. This has eroded the premium that Indian steel makers enjoyed and they're actually selling at a discount to international prices.
Vinod takes centrestage as Pramod stays away from deal; uncertainty over the latter's continuity on Ispat board.
The mining ministry's inordinate delay in giving approval to group firm Hindustan Zinc to buy London-based Anglo American's zinc mines has forced the company to route it through Sterlite.
Stable rise in demand, mega steel capacities on the anvil have resulted in the firms shifting up the value chain.
Essar Steel wants to partner with a foreign company to consolidate its position in the automobile steel market in India. The company, soon to be a 10-million tonne per annum manufacturer, has 20-25 per cent of the auto steel market. It does not wish to lose any of it to the recent joint ventures formed by various Indian steelmakers with Japanese ones.
Vedanta Aluminium is sourcing half of its bauxite requirement from Bharat Aluminium Company's mines.
National Aluminium Company (Nalco) has chalked out plans to enter the power business through the special purpose vehicle (SPV) route. The company plans to produce over 2000 MW by 2016.
Two O P Jindal group companies, JSW Steel and JSL Stainless, have entered into an agreement. JSL Stainless will produce coke for JSW Steel and the raw material to produce coke will be supplied by JSW.JSW Steel is promoted by Sajjan Jindal. His brother, Ratan Jindal, is managing director of JSL Stainless.
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