JSW Steel Ltd said on Monday that its board has approved the acquisition of an economic interest of up to 66.67% in M Res NSW, in an investment amounting to $120 million.
The investment will be made through its wholly owned subsidiary, JSW Steel (Netherlands) B.V., by subscribing to non-voting Class B shares, according to its statement to the exchanges. The company will further invest an additional $50 million in M Res NSW by 2030 to meet its obligations towards deferred consideration, the statement added.
(This is a developing story.)
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