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BSE   27 Jun 17 | 04:01 PM

117.05 -1.45 (-1.22%)
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Code: 532286
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NSE   27 Jun 17 | 03:59 PM

116.95 -1.5 (-1.27%)
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Code: JINDALSTEL
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1 Week : Rs 124.60 (-6.06%)
1 Month : Rs 118.40 (-1.14%)
1 Year : Rs 62.45 (87.43%)
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JSPL buys CIC Energy for $116 mn

Shubhashish / Mumbai 05 Sep 12 | 11:23 AM

Jindal steel and Power Ltd (JSPL) has completed the CIC Energy acquisition for $116 million. The company is likely to make an announcement about this acquisition soon.

A company official confirmed that the deal was signed last night.

CIC is a Canada-based coal miner with mines in Botswana, Africa. JSPL will be spending $100-150 million on infrastructure in the landlocked country to mine and ship the coal.

Earlier JSW energy was in talks to buy the company but the talks fell through.

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