26
Nov
13:43
Arjas's Modern Steels acquisition credit neutral, says Ind-Ra
India Ratings and Research (Ind-Ra) says Arjas Steel (ASPL)’s recent acquisition of Modern Steels (MSL) will be credit neutral for Arjas.
ASPL incorporated a wholly-owned subsidiary – Arjas Modern Steel – to enter into a definitive slump sale agreement with MSL. The management expects the acquisition to be completed by 15 March 2021, subject to the required approvals.
MSL operates a 150,000 tonnes/year capacity plant in Mandi Gobindgarh producin…
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Very good overview of the weekly steel market.
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