Tata Steel, India’s largest steel
giant is reportedly mulling to acquire Indian iron ore assets of Stemcor, one
of Britain’s largest independent steel trading companies. On the back of global
slowdown in the steel industry, British firm has run into trouble and is in
rescue talks with banks after de-faulting on more than $1 billion of loans.
Because of this cash crunch, the company is offloading some of its physical
assets, including its iron ore mine in Odisha which could fetch an estimated
$800 million.0731-664-2300
No comments:
Post a Comment