For Rs 240 crore
JSW Steel has executed a Share Purchase Agreement with Praxair India Private Limited to acquire their entire shareholding of 74% in JSW Praxair Oxygen Private Limited [JPOPL] for a cash consideration of Rs. 240 crore.The Company currently holds 26% of the equity shares of JPOPL and post the aforesaid acquisition, JPOPL would become a wholly owned subsidiary of the Company.
JPOPL is engaged in the business of production and sale of industrial gases such as oxygen, nitrogen and argon and has set up two air separation plants, each with a capacity of 2500 tonnes per day, at Toranagallu, Bellary District, Karnataka.
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