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JSW Steel firms up Rs1K-cr deal to buy Welspun Maxsteel

JSW Steel on Monday said it will acquire sponge iron maker Welspun Maxsteel Ltd in a deal worth more than Rs 1,000 crore.

This is one of the biggest deals in the domestic steel sector in the recent times.

Both companies have entered into a definitive agreement for the deal.

JSW Steel would acquire the entire equity shares held by Welspun Enterprises Ltd in Welspun Maxsteel Ltd ‘for an enterprise value of Rs 1,000 crore plus net current assets’, according
to a statement issued on Monday.
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