# GFG Alliance completes acquisition of Adhunik Metaliks and Zion Steel

GFG Alliance completed the acquisition of Adhunik Metaliks Ltd and Zion Steel Ltd in a Rs 4.25 billion ($60 million) cash deal, marking its entry into the Indian steel market.

- Type: Acquisition
- Announced: 2020-02-18
- Where: India
- Value: $60.0M
- Status: completed
- Products: steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [GFG Alliance](https://endata.com/companies/19734.md) (acquirer)
- [Adhunik Metaliks](https://endata.com/companies/45339.md) (target)
- [Zion Steel](https://endata.com/companies/45340.md) (target)

## Sources

- [libertysteelgroup.com](https://libertysteelgroup.com/gfg-alliance-cements-its-entry-into-india-with-completion-of-adhunik-metaliks-acquisition/), 2020-02-18: "GFG Alliance today completed the strategic acquisition of Adhunik Metaliks Ltd (Adhunik) and Zion Steel Ltd (Zion) in a Rs -4.25 bn ($60m) cash deal."

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