JSW Steel’s JV, Jsquare, to acquire 100 per cent stake in tkES for Rs 40.51 billion

JSW Steel has entered into a share purchase agreement to acquire a 100 per cent stake in thyssenKrupp Electrical Steel India (tkES India) unit in Nashik through a 50:50 joint venture (JV) with JFE Steel for Rs 40.51 billion. The acquisition will be made through the JV, Jsquare Electrical Steel, in which both companies hold equal shares. The transaction is structured as a cash deal.