India’s JSW Steel Limited has entered into a share purchase agreement with National Steel Holding (NSH) to buy out the latter’s equity stake in NSL Green Recycling, a company statement said on Monday, September 25.
On the completion of the acquisition, NSL Green Recycling will become a wholly-owned subsidiary of JSW Steel Limited, the latter said in its statement.
JSW Steel Limited and New Zealand-based NSH had entered into an agreement in August 2022 to jointly set up NSL Green Recycling Limited.
NSL Green Recycling, which was established to process and supply ferrous scrap to the steelmaking facilities of JSW Steel Limited, has yet to commence operations.
