JSW Steel Limited arm completes acquisition of 30.73% stake in GSI Lucchini S.p.A

JSW Steel Limited had earlier announced about the execution of Share Purchase Agreement("SPA") dated December 21, 2020 between its subsidiary JSW Steel Italy S.r.l. and Industrial Development Corporation, South Africa, for acquisition of 30.73% share capital of GSI Lucchini S.p.A ("GSI") for a cash consideration of Euro 1 Million ("Transaction").

Pursuant to fulfilment of conditions precedent mentioned in the SPA, the subsidiary JSW Steel Italy S.r.l has on April 13, 2021 completed the acquisition of 30.73% equity share capital of GSI.

Shares of JSW STEEL LTD. was last trading in BSE at Rs.630.4 as compared to the previous close of Rs. 604.2. The total number of shares traded during the day was 1053445 in over 17162 trades.

The stock hit an intraday high of Rs. 633 and intraday low of 604.2. The net turnover during the day was Rs. 651546483.

Source : Equity Bulls

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