Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

India’s JSW Steel has paid Rs2.25bn ($30.5mn) to Laptev Finance on Apr 30 as part of the payment to acquire Welspun’s steel division.


JSW will make the remaining consideration amount payment on a deferred basis subject to Welspun fulfilling certain regulatory conditions, the former noted in its Stock Exchange filing on May 1. 


Under the agreement, with Laptev Finance, JSW plans to acquire Welspun’s steel units for a total deal value of Rs8.4bn. Welspun had originally sold its high-grade steel plates and coil-making division to Laptev Finance in March 2019.

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