JSW Steel’s JSW Ispat Special Products Limited announced that Monnet Global Limited sold its entire stake in Indoneisan PT Sarwa to PT Srinata Mahajati Corpora for a net consideration of USD 1 million. Consequently, PT Sarwa will cease as the subsidiary of Monnet Global Limited and step-down subsidiary of 3SW Ispat Special Products Limited subject to approvals, as may be required from Indonesian authorities.Erstwhile Monnet Ispat & Energy Ltd’s100% subsidiary Monnet Global Ltd had acquired Indonesian coal company PT Sarwa Sembada Karya Bumi for USD 24 million in 2011 for access to one of the largest thermal coal mines spreading over an area of 25,000 hectares.
JSW Steel’s JSW Ispat Special Products Limited announced that Monnet Global Limited sold its entire stake in Indoneisan PT Sarwa to PT Srinata Mahajati Corpora for a net consideration of USD 1 million. Consequently, PT Sarwa will cease as the subsidiary of Monnet Global Limited and step-down subsidiary of 3SW Ispat Special Products Limited subject to approvals, as may be required from Indonesian authorities.Erstwhile Monnet Ispat & Energy Ltd’s100% subsidiary Monnet Global Ltd had acquired Indonesian coal company PT Sarwa Sembada Karya Bumi for USD 24 million in 2011 for access to one of the largest thermal coal mines spreading over an area of 25,000 hectares.
