Jindal completes acquisition of Maspion Stainless

Jindal completes acquisition of Maspion Stainless

According to recent news in the market, Indian steel producer Jindal Stainless has completed acquisition of Indonesian cold rolled steel producer Maspion Stainless Steel Indonesia PT for $32 million. This acquisition is the first overseas acquisition of Jindal Stainless. Through the newly-acquired mill, Jindal will supply its Indian mills. Jindal Stainless borrowed the $20 million of the total payment from Export Import Bank of India and State Bank of India and the remaining part has been funded through internal sources.