MUSCAT: Indian-based conglomerate Jindal Steel and Power announced on Friday the completion of its divestment in the Oman subsidiary Jindal Shadeed Iron and Steel (JSIS) to Vulcan Steel, a subsidiary of Templar Investment.
The announcement came in a filing to the local stock exchange, BSE.
“JSPML [Jindal Steel & Power (Mauritius) Limited] has sold the balance shareholding held by it, representing 51 per cent of the share capital of JSIS Oman, to Vulcan Steel in the second and final tranche, in accordance with the shareholder approval’’, the company said in the statement.
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