 "JSW, Blackstone, Monnet Ispat")
JSW Ispat Special Steel Products (formerly Monnet Ispat & Energy) has decided to transfer the manufacturing facilities at Raipur via a slump sale to a wholly-owned subsidiary, Mivaan Steels (MSL) to “enhance stakeholders’ value and unlock intrinsic value”.
At a meeting that concluded late on Wednesday, the Board approved acquisition of 100 per cent of the equity share capital of MSL to make it a wholly-owned subsidiary and the transfer of the company’s Raipur manufacturing facilities to it.
The transfer is subject to necessary approvals by the stock exchanges, Securities and Exchange Board of India (Sebi), shareholders and creditors of
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