JSW Steel’s Italian arm completes acquisition of 30.73% stake in GSI Lucchini S.p.A; Stock hits 52-week high early on

On December 21, 2020, a SPA had been executed between JSW Steel Italy S.r.l. and Industrial Development Corporation, South Africa, for acquiring a 30.73% share capital of GSI for Euro 1 Million.

Apr 15, 2021 11:04 IST India Infoline News Service

Seshagiri Rao, JSW Steel
JSW Steel Limited subsidiary JSW Steel Italy S.r.l has completed the acquisition of 30.73% equity share capital of GSI Lucchini S.p. A. On December 21, 2020, a share purchase agreement (SPA) had been executed between subsidiary JSW Steel Italy S.r.l. and Industrial Development Corporation, South Africa, for acquiring 30.73% share capital of GSI for Euro 1 Million.

The company stock hit a 52-week high of Rs645 per piece during early trade on Thursday. At around 11.55am, JSW Steel Ltd was trading at Rs624.55 per piece down Rs5.85 or 0.93% on the BSE. 
 “We hereby intimate you that pursuant to fulfilment of conditions precedent mentioned in the SPA, our subsidiary JSW Steel Italy S.r.l has on April 13, 2021 completed the acquisition of 30.73% equity share capital of GSI,” company said in a regulatory filing on Tuesday.

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