Financial Daily from THE HINDU group of publications
Wednesday, Aug 18, 2004
Financial Daily from THE HINDU group of publications Wednesday, Aug 18, 2004 |
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Corporate
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Mergers & Acquisitions LN Mittal group acquires steel co in Bosnia Our Bureau
New Delhi , Aug. 17 THE LN Mittal group on Wednesday announced the acquisition of majority stake in BH Steel of Bosnia. The group has completed negotiations with the Government of the Federation of Bosnia-Herzegovina and the Kuwaiti Investment Agency to acquire 51 per cent of BH Steel in Bosnia, according to an official release. The LN Mittal group company — LNM Holdings N.V. — would make the acquisition. According to the terms of agreement, LNM has agreed to increase the share capital of BH Steel by a total of $80 million and invest a minimum of $135 million in a capital expenditure programme over the next 10 years, the release added. BH Steel has a current annual production level of two lakh tonnes and produces a variety of long products, including forgings, bar and rod.
More Stories on : Mergers & Acquisitions | Steel
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