# Aion Investments and JSW Steel win creditor approval for Monnet Ispat & Energy

Aion Investments and JSW Steel won approval from creditors to acquire bankrupt steelmaker Monnet Ispat & Energy for an estimated Rs 3,500-4,000 crore. The resolution plan was approved by a 98.97% vote on April 10, 2018.

- Type: Acquisition
- Announced: 2018-04-10
- Where: Chhattisgarh, India
- Value: $525.0M (37.5B INR)
- Status: announced
- Capacity: 1.5 million tonnes per annum
- Products: steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [JSW Steel](https://endata.com/companies/22727.md) (acquirer)
- [Aion Investments](https://endata.com/companies/31257.md) (acquirer)
- [Monnet Ispat & Energy](https://endata.com/companies/31258.md) (target)
- [AION Capital](https://endata.com/companies/31296.md) (acquirer)

## Sources

- [indianexpress.com](https://indianexpress.com/article/business/companies/bid-for-monnet-ispat-energy-aion-jsw-gets-creditors-nod-5132185/), 2018-04-10: "Aion Investments and JSW Steel have won the approval of creditors, snapping up the bankrupt Monnet Ispat & Energy for an estimated Rs 3,500-4,000 crore."
- [india.com](https://www.india.com/news/jsw-steel-aion-capital-win-bid-to-acquire-bankrupt-monnet-ispat-2996725/), 2018-04-12: "JSW Steel led consortium has won the bid to acquire bankrupt Monnet Ispat and Energy Ltd (MIEL) in an insolvency auction."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.