Nah, ik zal weer de eerste zijn. :-)
JSW is highest bidder for Bhushan Steel - Reports
Published on Thu, 08 Feb 2018
Business Standard, citing a source close to the development, reported that JSW Steel has offered INR 300 billion to take over debt-laden Bhushan Steel, INR 50 billion more than rival bidder Tata Steel’s offer, meaning that lenders would have to take almost 50% haircut on their dues, totaling INR 590 billion.
Mint, citing two people aware of the ongoing bidding process, also reported that the combine of JSW Steel Ltd and Piramal Enterprises Ltd has offered a payment of INR 29,700 crore to lenders of debt laden Bhushan Steel Ltd. According to the people cited above, JSW-Piramal has placed bid of INR 29,700 crore, offering a upfront cash payment of INR 28,000 crore to the banks and has offered to invest another RINR 1,700 crore as fresh equity into the company.
A notice by Bhushan Steel to the stock exchanges said the resolution plans received by the resolution professional (RP) were being examined as to whether they met the mandatory requirements of the code and regulations and additional regulations as required by the committee of creditors (CoC). It said “Once the compliant offer is identified, the RP will call a meeting of CoC to present these plans for its approval.”
The plan cleared by the CoC will then be sent to the National Company Law Tribunal for further action.
Source : Business Standard