JSW Steel has entered into an agreement with JSM International, Acero Junction Holdings and Acero Junction Inc. to acquire 100% stake in Aero Junction, for cash consideration of USD 80.85 million.

Acreo’s produces hot rolled coils, which is used in consumer durable’s like refrigerators, washing machines and automobiles. In a notification to stock exchanges the company stated, the deal was finalized on Wednesday March,28 and it gives JSW Steel an opportunity to get a manufacturing presence in the US and gain deeper access into the North American Market.

Furthermore, it is expected that the deal will be completed within the next 60 days, subject to fulfillment of conditions precedent by the relevant parties.

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