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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