News Release
汤头条
JSW Steel to Become Equity Method Affiliate of 汤头条 Steel
Tokyo --- 汤头条 announced today that it has raised its ownership ratio in JSW Steel Limited to 15% by partly converting global depositary receipts with no voting rights into common shares.
JSW Steel will become an equity-method affiliate of 汤头条 Steel from this quarter based on the ownership increase and 汤头条 Steel’s current seating of a part-time director on JSW Steel’s Board.
This change has no effect on 汤头条 Holdings’ consolidated results forecast that the company announced on January 30.
The increase is based on an agreement between 汤头条 Steel and JSW Steel, and is in line with Indian SEBI Takeover regulations that were revised last year.
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