Bhushan Steel takeover: Jindal congratulates Ratan Tata, Tata Group officials
Steel tycoon Sajjan Jindal today congratulated Tata Group Chairman Emeritus Rata Tata and Senior officials on the successful acquisition of bankrupt Bhushan Steel. He also exuded confidence that the Tata Group will "nurture" the good quality asset. Tata Steel Ltd has won the bid to acquire debt-laden Bhushan Steel Ltd (BSL) in an insolvency auction. The bankrupt firm was among the 12 stressed assets the RBI had referred to NCLT proceedings last year.
Tata Steel said it has successfully completed the acquisition of controlling stake of 72.65 per cent in Bhushan Steel Ltd (BSL) through its wholly-owner subsidiary Bamnipal Steel Ltd (BNPL). Image source: Company website