For acquisition of Monnet Ispat & Energy
JSW Steel announced that JSW and AION Investments Private II Limited (AION) (together as a consortium) had submitted a bid for Monnet Ispat & Energy (MIEL) under the corporate insolvency resolution process of the Insolvency and Bankruptcy Code 2016.This consortium has been declared as the successful resolution applicant by the Committee of Creditors of MIEL on 10 April 2018, and has received a Letter of Intent (LoI) dated 12 April 2018. The consortium has accepted the terms of the LoI.
The closure of the transaction shall be subject to obtaining necessary regulatory approvals, including from the National Company Law Tribunal and the Competition Commission of India.
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