The deal comes shortly after the steelmaker’s US unit signed an agreement on Monday with the Texas governor’s office to invest $500 million. Photo: ReutersJSW Steel Ltd said on Thursday that it has agreed to buy Acero Junction Holdings for $80.85 million, as it looks to expand its operations in the United States. JSW Steel entered into a stock purchase agreement on Wednesday with JSM International Ltd, Acero Junction Holdings Inc. and Acero Junction Inc. for the acquisition, the steelmaker said in a statement. The deal comes shortly after the steelmaker’s US unit signed an agreement on Monday with the Texas governor’s office to invest $500 million to build out its operations in Texas, amid heightened global trade tensions following U.S President Donald Trump’s decision to pursue steep import tariffs.

Source: Mint March 29, 2018 06:22 UTC