12
Jan
19:44
Kalyani Steels to acquire Kamineni Steel assets
Kalyani Steels has been declared as successful bidder for the acquisition of Kamineni Steel & Power India’s assets after an auction carried out under the Insolvency and Bankruptcy Code, 2016.
The cash consideration of INR 450 crore ($54 million) is to be paid for the acquisition of assets by 7 April, with the transaction scheduled for completion by 7 May, Kallanish notes.
The acquired assets comprise 143.825 acres of land in Narketpally Mandal, Nalgonda…
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