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Jindal Stainless plans to consolidate group units - Report-The 20th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
1/25/2019 不銹鋼展-不銹鋼展會-效果最好的不銹鋼展會- Stainless Steel Exhibition |
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Economic Times reported that Jindal Stainless group is looking to consolidate its group units Jindal Stainless, its Odisha unit, and Jindal Stainless (Hisar) a move that is expected to unlock value for shareholders and create synergies. The initiation of the consolidation move is expected to take place once the group’s 1.8 million tonne Odisha plant gets out of the last leg of the corporate debt restructuring by March, and is given a clean chit by the State Bank of India, the lead lender in the consortium of banks that have lent to the company. Mr Abhyuday Jindal, MD of Jindal Stainless, told ET that “There are no immediate plans but we would like to look at it in the future as it will create a more stable company and there will be tremendous value that will be created for the shareholders.”
The re-merging of the group companies will form the third step in creating a more valuable company after it split Jindal Stainless (Hisar), the parent company, into JSHL and Jindal Stainless, under an asset monetisation plan (AMP) in 2014 to protect Hisar, the “stronger" unit on a standalone basis, from group’s consolidated liabilities.
The AMP supported the company in achieving a turnaround in profits. It will be followed, Jindal said, by the company “hopefully” coming out of the debt restructuring, and then eventually re-merging the two units.
不銹鋼展-2019第二十屆廣州國際不銹鋼工業展-效果最好的不銹鋼展會-The 20th China(Guangzhou)Int''l Stainless Steel Industry Exhibition
- Stainless Steel exhibition,2019
Stainless Steel exhibition, China
Stainless Steel exhibition, Guangzhou
Stainless Steel expo,Guangzhou Stainless Steel exhibition,
2019 Stainless Steel expo, China Stainless Steel expo
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