Home News Industry News Welspun completes sale of Welspun Maxsteel to JSW Steel

    Welspun completes sale of Welspun Maxsteel to JSW Steel

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    Welspun EnterprisesWelspun Enterprises has completed the sale of Welspun Maxsteel  to JSW Steel  in follow up to the definitive agreement between the two companies on August 18th. The deal, which included the sale of the entire shareholding of WMSL held by WEPL to JSW Steel, was cleared by ‘the Competition Commission of India’ on September 23rd. The deal concluded with further infusion of about Rs 19.4 Cr by WEPL after adjusting the value of net current assets receivable by it to fulfill the gap between the current long term loan liabilities of WMSL and amount infused by JSW in WMSL.

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