JSW steel eyes stake in Sandur Manganese and Iron Ores - TopicsExpress

JSW steel eyes stake in Sandur Manganese and Iron Ores Maharashtra : JSW Steel owned by billionaire Sajjan Jindal, is in talks to purchase a significant stake in Sandur Manganese and Iron Ores in Karnataka to improve its access to iron ore and cut logistics costs, two people with direct knowledge of the development said. "JSW is in talks to buy a significant stake of the promoter in Sandur Manganese at a considerable premium to its current market price," said an investment banker with direct knowledge of the deal. He declined to provide further details as the deal is yet to be closed. The promoters, who own 74.15% stake in the company, have appointed investment banker Edelweiss Financial Services to scout for a buyer.

. AlterNet / By Alyssa Figueroa

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