Brief: Kirloskar Ferrous Industries to buy VSL Steels' pig iron plant assets

Kirloskar Ferrous Industries

28/07/2016 07:14

July 28 (Reuters) - Kirloskar Ferrous Industries Ltd  KRFI.BO : 
 * Granted its in-principle approval for acquisition of movable and immovable 
   assets relating to pig iron plant of VSL Steels 
 * Deal for a cash consideration of 1.55 billion rupees 
 * Purchase price shall be financed partly by way of term loans and partly via 
   internal accruals 
 * Proposed transaction to be completed within 15 months 
 * On completion of proposed deal, co's production capacity of pig iron to 
   increase from 360,000 MT p.a. to 540,000 MT p.a. 
 
 * Source text: http://bit.ly/2aLWPHp 
 
 * Further company coverage  KRFI.BO   
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