Billionaire Anil Agarwal's Vedanta Ltd is seeking to sell ESL Steel Ltd, formerly known as Electrosteel Steels Ltd, after acquiring the asset for ₹5,320 crore through a bankruptcy resolution process five years ago, two people familiar with the development said.
A previous attempt to sell the asset in late December failed as certain approvals, including environmental clearance and expansion plan, were still pending, turning prospective buyers cautious. The mandate for selling the asset in Bokaro, Jharkhand, is with bankers including Citigroup and JPMorgan's India offices, the people said, on condition of anonymity. The mandate may also include the iron ore mines in Goa and Karnataka, they said, adding that the details and contours of the asset will be known by mid-August.
The price tag for ESL's assets would be between $2 billion and $3 billion, the people said, requesting anonymity.
هذه القصة مأخوذة من طبعة July 20, 2023 من Hindustan Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة July 20, 2023 من Hindustan Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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