JSW Steel sole bidder for Monnet Ispat

JSW Steel sole bidder for Monnet Ispat
16/02/2017 , by , in ALLIED

Sajjan Jindal-led JSW Steel has emerged as the sole bidder for a controlling stake in Monnet Ispat Energy through the strategic debt restructuring (SDR) route. Friday was the last day for submitting bids and JSW Steel was the only company to submit the final bid, sources close to the development said, though global private equity fund Blackstone and Sudhir Maheshwari-led Synergy Capital had discussed the matter with lenders. Asked whether Synergy decided not to go ahead with the bid, Maheshwari said, “I am unable to comment on market rumours.” A source said.

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