Seshagiri Rao, joint MD and group CFO of JSW Steel. If its resolution plan for Essar Steel is approved by the committee of creditors, JSW Steel will invest in the step down subsidiary of Numetal Mauritius. Photo: S. Kumar/MintMumbai: JSW Steel Ltd, which is bidding for debt-ridden Essar Steel Ltd in alliance with Numetal Mauritius, may sell some of its stake to a private equity partner if it wins the auction, a top company executive said. ArcelorMittal and Numetal were finalists in the Essar Steel bankruptcy auction, but the bankruptcy resolution professional disqualified both bids. If the resolution plan submitted is approved by the committee of creditors, JSW Steel will invest in the step down subsidiary of Numetal.

Source: Mint April 15, 2018 23:37 UTC