The logo of JSW Steel is seen on the company’s headquarters in Mumbai. Photo: ReutersNew Delhi:JSW Steel-AION Capital has emerged as the successful bidder to acquire bankrupt Monnet Ispat and Energy (MIEL), according to a regulatory filing. Besides MIEL, JSW Steel along with NuMetal had submitted bids for Essar Steel, another steel firm under insolvency proceedings, on 2 April. JSW Steel is a part of the diversified $12 billion JSW Group, which has presence in steel, energy, infrastructure, cement, ventures and sports. JSW Steel is the leading integrated steel company in India with an installed steel-making capacity of 18 MTPA.

Source: Mint April 12, 2018 14:15 UTC