16
Apr
14:31
JSPL completes Shadeed divestment
Jindal Steel & Power (JSPL) has completed the sale of its remaining shareholding in the Oman-based Shadeed steelworks to Vulcan Steel, also part of the OP Jindal Group.
The first tranche was sold last September after JSPL agreed last July to sell its Oman unit for $1 billion in order to reduce debt (see Kallanish passim). It had previously been mulling a strategic investor for the unit, or carrying out an initial public offering.
The divestment “has hel…
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