Ispat acquires Nigerian Delta Steel
Ispat Industries acquired an 80% stake in
Nigeria-based steel producer Delta Steel and a port from the Nigerian government.
The deal's price tag has not been announced yet, although some industry sources estimate that the deal will cost Ispat between $30-40 million.
The acquisition was carried out via Global Infrastructure Holdings Ltd (GIHL).
As previously reported by SteelOrbis, Ispat Industries took over the managerial control and operations of another Nigerian steel company, Ajaokuta Steel, in August 2004.