Tata Sponge finishes acquisition of Usha Martin Ltd’s steel business

Tata Sponge finishes acquisition of Usha Martin Ltd’s steel business

Kolkata: Tata Steel’s subsidiary Tata Sponge Iron on Tuesday said it has completed the acquisition of steel business of debt-ridden Usha Martin Ltd (UML), though transfer of some assets including mines and certain land parcels is pending. “This is to inform you that the Company has completed the acquisition of steel business undertaking including captive power plants, today (Tuesday) i.e. on April 9, 2019, pursuant to a cash consideration (after adjustment for negative working capital and debt like items) payable to UML of ₹4,094 crore, which is subject to further hold backs of ₹640 crore, pending…

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Liberty House highest bidder for Amtek Auto acquisition

Liberty House highest bidder for Amtek Auto acquisition

This is a very proud moment for GFG Alliance and for my family, said Sanjeev Gupta on the Liberty House emerging as the highest bidder for Amtek Auto. Photo: Shendrew Balendran/Mint New Delhi: Liberty House, part of Sanjeev Gupta’s global industrial group GFG Alliance, on Wednesday said it has emerged as the successful highest bidder for Amtek Auto Ltd, paving the way for the former’s entry into the Indian market. “Liberty House…is set to make a dramatic entry into India after being chosen as preferred H1 bidder for Amtek Auto assets…

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