SECTOR
JSW Steel gets nod to acquire additional economic interest in M Res NSW HCC
Sep-17-2025

JSW Steel has received approval for acquisition of additional economic interest in M Res NSW HCC for an aggregate consideration of $60 million (Transaction). The Transaction will be effected by way of a combination of primary subscription and secondary purchase of non-voting Class B shares in M Res NSW. Subsequent to the completion of the Transaction, the company will hold an 83.33% economic interest in M Res NSW and M Res NSW will increase its holding in Golden M NSW to 36%. This will result in the company increasing its effective economic interest in Illawarra Metallurgical Coal to 30% from 20%. 

Further, the terms of the company’s existing investment in M Res NSW require it to additionally invest upto $50 million in M Res NSW in 2030 to fund the deferred consideration payable to South32. The increased effective economic stake would correspondingly increase this obligation to upto $75 million. The Board of Directors of the company at its meeting held on September 17, 2025 has approved the same. The company through its wholly owned subsidiary JSW Steel (Netherlands) B.V. will acquire additional economic interest in M Res NSW HCC. 

JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.


  RELATED NEWS >>