JSW Steel Ltd (JSTL) has announced a restructuring that unlocks value from Bhushan Power & Steel Ltd (BPSL) and changes the balance-sheet. JSTL will do a slump sale of 50 per cent stake in BPSL to Japan's JFE Steel in two equal tranches, totalling Rs 15,700 crore in cash.
From setting up cutting-edge facilities to cater to the domestic market and building capabilities of global standards, the action is building up.
Jindal Steel and Power and JSW Steel, are in competing talks to buy parts of insolvent Italian steelmaker Lucchini.
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