Jindal Steel plans to buy European steel maker SMS Meer for Rs 1500- Rs 2000 crore
SMS Meer is part of the European SMS Group which largely produces copper, aluminium and steel. Jindal Steel is actively looking to expand in the European region.
Sources indicate that this deal is in final stage and due diligence is complete. Now, as the due diligence is done only the term sheet has to be signed between the two players. An official announcement of the deal is expected in 10 days time.
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