Joint Venture3 Dec 2025, 09:31 pm
JSW Steel and JFE Steel Corporation Enter Strategic Joint Venture for Bhushan Power and Steel Limited Steel Business
AI Summary
JSW Steel Limited and JFE Steel Corporation, Japan have entered into a Joint Venture Agreement to implement a strategic joint venture partnership for the business undertaking of Bhushan Power and Steel Limited (BPSL). This decision was approved in a Board of Directors meeting on December 3, 2025. The Company has also entered into a business transfer agreement with JSW Sambalpur for the transfer of the Steel business undertaking of BPSL to JSW Sambalpur, by way of a slump sale on a going concern basis. The transaction is subject to necessary regulatory and shareholder approvals, including approval of the Competition Commission of India.
Key Highlights
- JSW Steel Limited and JFE Steel Corporation, Japan have formed a 50:50 Joint Venture for Bhushan Power and Steel Limited's steel business.
- The joint venture is subject to necessary regulatory and shareholder approvals, including approval of the Competition Commission of India.
- JSW Steel has entered into a business transfer agreement with JSW Sambalpur for the transfer of BPSL's steel business undertaking.
- The transaction is a slump sale on a going concern basis.
- The disclosure is in compliance with Regulation 30 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.