JSW Steel acquires remaining 50 per cent stake in NSL Green Steel Recycling

JSW Steel on Wednesday announced acquiring the remaining 50 per cent stake in NSL Green Steel Recycling Limited. Post completion of the acquisition, NSL has become a wholly-owned subsidiary of the company, JSW Steel said in a regulatory filing.

JSW, on September 27, 2023, completed the acquisition by purchase of the entire 50 per cent stake held by National Steel Holding Limited (NSHL) in NSL, it added.

"Consequent to completion of this acquisition and other closing conditions as mentioned in the Securities Purchase Agreement (SPA), JSW's shareholding in NSL has increased from 50 per cent (pre-acquisition) to 100 per cent (post-acquisition), and NSL has become a wholly-owned subsidiary of the company effective today," it said.