Moneycontrol
Dec 02, 2016 02:38 PM IST | Source: CNBC-TV18

JSW Steel in talks to buy Stemcor's pellet assets in Odisha

Sajjan Jindal's flagship company JSW Steel is likely in advanced talks to acquire Stemcor’s pellet assets in Odisha, sources tell CNBC-TV18.


Sajjan Jindal's flagship company JSW Steel is likely in advanced talks to acquire Stemcor’s pellet assets in Odisha, sources tell CNBC-TV18.


Stemcor is a UK-based steel trading company bought by Apollo. The company’s plant - Brahmani River Pellets (BRPL) - which JSW is eyeing is believed to have capacity of about 4 million tonnes.


Sources say the deal could be sealed at an Enterprise Value of around Rs 1,000 crore.

It must be noted that a lot of companies were eyeing these assets and JSW had attempted to buy them in 2014 as well. However, pellet prices had plummeted and the plan was deferred.

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