SynopsisJSW Steel has successfully acquired the remaining 50% stake held by National Steel Holding Limited in NSL Green Steel Recycling. With this acquisition, the company now owns 100% of NSL, making it a wholly-owned subsidiary.ArticleIn a significant corporate development, JSW Steel has achieved the complete acquisition of NSL Green Steel Recycling Limited. This strategic move follows the earlier announcement dated September 22, 2023, which highlighted the execution of the Termination Agreement and Securities Purchase Agreement for the purchase of the remaining 50% stake in NSL Green Steel Recycling held by National Steel Holding Limited.On September 27, 2023, the acquisition process was successfully concluded. As a result of this acquisition and in compliance with the terms outlined in the SPA, the company's ownership stake in NSL has transitioned from 50% (pre-acquisition) to a commanding 100% (post-acquisition). This transformation marks NSL as a Wholly Owned Subsidiary of the company, a development that holds significant implications for both entities.ConclusionThe completion of the full acquisition of NSL Green Steel Recycling Limited signifies a major milestone for JSW Steel. By securing the remaining 50% stake held by NSHL, the company now exercises complete ownership and control over NSL. This move is expected to have a substantial impact on the strategic direction and operations of both the company and NSL, as they move forward as an integrated entity.
SynopsisJSW Steel has successfully acquired the remaining 50% stake held by National Steel Holding Limited in NSL Green Steel Recycling. With this acquisition, the company now owns 100% of NSL, making it a wholly-owned subsidiary.ArticleIn a significant corporate development, JSW Steel has achieved the complete acquisition of NSL Green Steel Recycling Limited. This strategic move follows the earlier announcement dated September 22, 2023, which highlighted the execution of the Termination Agreement and Securities Purchase Agreement for the purchase of the remaining 50% stake in NSL Green Steel Recycling held by National Steel Holding Limited.On September 27, 2023, the acquisition process was successfully concluded. As a result of this acquisition and in compliance with the terms outlined in the SPA, the company's ownership stake in NSL has transitioned from 50% (pre-acquisition) to a commanding 100% (post-acquisition). This transformation marks NSL as a Wholly Owned Subsidiary of the company, a development that holds significant implications for both entities.ConclusionThe completion of the full acquisition of NSL Green Steel Recycling Limited signifies a major milestone for JSW Steel. By securing the remaining 50% stake held by NSHL, the company now exercises complete ownership and control over NSL. This move is expected to have a substantial impact on the strategic direction and operations of both the company and NSL, as they move forward as an integrated entity.
