Sumitomo Corporation to acquire 49% stake in Mukand Alloy Steels

Sumitomo Corporation and Mukand Limited reached a basic agreement for Sumitomo to acquire 49% of Mukand Alloy Steels Private Limited (MASPL), a subsidiary that manufactures specialty rolled steel, and participate in its operation.

“Sumitomo Corporation will acquire 49% of the shares of Mukand Alloy Steels Private Limited (“MASPL”), a subsidiary of Mukand that manufactures specialty rolled steel, and participate in its operation.”sumitomocorp.com

• 2 sources
• sumitomocorp.comBasic Agreement on Investment in the Specialty Steel Business in India | Sumitomo Corporation in EuropeMar 30, 2017
• sumitomocorp.comBasic Agreement on Investment in the Specialty Steel Business in India | Sumitomo CorporationMar 31, 2017

Summarized from public sources; check the original articles before acting on it.