JSW Steel is all set to sign a term sheet with Algerias Cevital to buy Italys second largest steel firm Aferpi for almost 600 crore
Almost three years after losing the race to buy Italys second largest steel maker to Cevital, Algerian privately held group, billionaire Sajjan Jindal led JSW Steel is all set to sign a term sheet with Cevital to buy the steel firm for almost Rs 600 crore.
Confirming the development, a source in the know told The Hindu, JSWs senior officials are in Italy and a term sheet is likely to be signed tomorrow, a source told The Hindu. The government will announce the deal after the term sheet is signed, the added. Cevital had bought Italian steel firm Lucchini in 2014 and renamed it Aferpi. Lucchini, which was then…
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