{"id":20872,"date":"2018-02-04T11:26:17","date_gmt":"2018-02-04T11:26:17","guid":{"rendered":"http:\/\/punjabnews24.com\/?p=20872"},"modified":"2018-02-04T11:26:17","modified_gmt":"2018-02-04T11:26:17","slug":"jsw-steel-and-piramal-to-jointly-bid-for-bhushan-steel-as-jfe-steel-opts-out-says-source","status":"publish","type":"post","link":"https:\/\/blastingskyhawk.com\/english\/jsw-steel-and-piramal-to-jointly-bid-for-bhushan-steel-as-jfe-steel-opts-out-says-source\/","title":{"rendered":"JSW Steel and Piramal to jointly bid for Bhushan Steel, as JFE Steel opts out, says source"},"content":{"rendered":"<p>JSW Steel and Piramal Enterprises are bidding jointly for Bhushan Steel after Japanese company JFE Steel Corp walked out of the alliance, a source in the know of the matter said.<\/p>\n<p>JSW Steel had roped in its Japanese business partner JFE Steel and Piramal Enterprises to bid jointly for Bhushan Steel, the maker of auto-grade steel in India undergoing insolvency proceedings for non-payment of dues.<\/p>\n<p>\u201cJFE has walked out. JSW Steel and Piramal Enterprises will now bid for Bhushan Steel,\u201d the source said requesting anonymity.<\/p>\n<p>Besides JSW Steel, Luxembourg-based multinational steel firm ArcelorMittal and domestic industry major Tata Steel and are said to be in race for Bhushan Steel.<\/p>\n<p>Asked if JSW Steel could lower its bid as Japanese partner has opted out now, the source said, \u201cJSW is in expansion mode, no matter one partner has gone, JSW can even increase the bid along with Piramal. It will be a 50:50 partnership now\u201d.<\/p>\n<p>JSW Steel reportedly had plans to offer Rs 30,000 crore, double of the liquidation amount, for Bhushan Steel.<\/p>\n<p>Liquidation value is the minimum value set for a stressed asset by the committee of creditors.<\/p>\n<p>According to Bhushan Steel\u2019s website, the company is the third largest secondary steel producer in the country with an existing steel production capacity of 5.6 million ton per annum.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>JSW Steel and Piramal Enterprises are bidding jointly for Bhushan Steel after Japanese company JFE Steel Corp walked out of the alliance, a source in the know of the matter said. JSW Steel had roped in its Japanese business partner JFE Steel and Piramal Enterprises to bid jointly for Bhushan Steel, the maker of auto-grade [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":20873,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-20872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/20872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=20872"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/20872\/revisions"}],"predecessor-version":[{"id":20874,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/20872\/revisions\/20874"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/20873"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=20872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=20872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=20872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}