JSW Steel has entered into a legally binding share purchase agreement to acquire, in one or more tranches, 1,32,37,227 equity shares of Rs 10 each, representing 26.45% of the issued and paid-up share capital of JSW Vallabh Tinplate from the existing third party shareholders of JSW Vallabh Tinplate.
The closing of the transaction is subject to customary closing conditions.
Pursuant to the above, JSW Vallabh Tinplate shall, on closing of the transaction, become a wholly owned subsidiary of the Company, with the Company's direct and indirect (through its wholly owned subsidiary Vardhman Industries) shareholding in JSW Vallabh Tinplate increasing from 73.55% to 100%.
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