Report: Gerdau May Acquire Stake in Indian Steelmaker
09/23/2015 - Lenders to India’s Visa Steel have decided to convert a large portion of the company’s debt into equity using the Reserve Bank of India’s strategic debt restructuring scheme, according to The Financial Express newspaper.
Additionally, Brazilian steelmaker Gerdau reportedly has expressed an interest in acquiring a stake in Visa, the newspaper said.
“We have an investment proposal from Brazilian steelmaker Gerdau and are examining it,” a senior banking executive told the newspaper.
Visa Steel is an integrated producer that operates a 500,000 metric ton special steel plant along with an 180,000 metric ton ferrochrome plant.
“We have an investment proposal from Brazilian steelmaker Gerdau and are examining it,” a senior banking executive told the newspaper.
Visa Steel is an integrated producer that operates a 500,000 metric ton special steel plant along with an 180,000 metric ton ferrochrome plant.
