AZB & Partners Advised JFE Steel On Joint Venture With JSW Steel For Acquisition Of Bhushan Power & Steel Limited

AZB & Partners advised JFE Steel on Joint Venture with JSW Steel for Acquisition of Bhushan Power & Steel Limited

The Indian corporate law firm, AZB & Partners advised JFE Steel (Japan) on a landmark transaction resulting in a 50:50 joint venture between JSW Steel and JFE Steel. The joint venture will take over the steelmaking business of Bhushan Power & Steel Limited (BPSL), with JFE contributing approximately USD 1.75 billion for the acquisition.

The JV is expected to increase crude steel production at its integrated steelworks to 10 million tons by 2030, with potential future expansion to 15 million tons, positioning the facility as one of the largest integrated steelworks in India. AZB & Partners has supported JFE Steel since its inaugural investment in JSW Steel in 2009, making this milestone especially significant.

The AZB & Partners transaction team comprised Nilanjana Singh (Senior Partner), Qais Jamal (Partner), Kinjal Bhatt (Senior Associate), Yash Chhadva (Senior Associate), Parth Goyal (Associate), and Sanyam Jha (Associate). They were supported on due diligence by Anushka Pemmaya (Senior Associate), Shivang Sinha (Senior Associate), Anika Kumar (Associate), Parvathy Suresh (Associate), Prashant Munshi (Associate), Sakshi Tolani (Associate), Sarthak Garg (Associate), Shloka Jain (Associate); and on antitrust aspects by Bharat V Budholia (Senior Partner), Kirthi Srinivas (Partner), Vayshnavi Ganesh (Senior Associate), and Varnika Agarwal (Associate), Ashna Mahajan (Associate), Aryaman Kapoor (Associate).

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