{"id":33976,"date":"2022-04-05T20:29:17","date_gmt":"2022-04-05T14:59:17","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-crest-acquisition-corrected\/"},"modified":"2022-04-05T20:29:17","modified_gmt":"2022-04-05T14:59:17","slug":"biz-crest-acquisition-corrected","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-crest-acquisition-corrected\/","title":{"rendered":"UK-based Nithia acquires steel maker CREST for Rs 600 cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2680477223\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 New Delhi, Apr 5 (PTI) UK-based advisory and investment firm Nithia Capital on Tuesday announced the acquisition of Crest Steel and Power Pvt Ltd (CREST) in Chhattisgarh for Rs 600 crore through an insolvency process.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1945393685\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 This acquisition has been completed under an insolvency process in partnership with Amalgam Steel Private Limited (ASPL), Nithia Capital said in a statement.<\/p>\n<p>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 &#8220;Nithia Capital (Nithia) completes acquisition of CREST in partnership with Amalgam Steel Private Limited with Nithia retaining majority control of the partnership,&#8221; the statement said.<\/p>\n<p> CREST is an integrated plant with a sponge iron capacity of 225 kilo tonne per annum (KTPA). The plant has over 400 acre land, providing &#8220;extensive room&#8221; for brownfield expansion with a private railway siding, Nithia said.<\/p><div class=\"trade-content_5\" id=\"trade-1709192339\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0Jai Saraf, founder and CEO of Nithia Capital, said, &#8220;The acquisition is an important and strategic step for Nithia and our second steel investment in India. With our newly forged partnership with Amalgam Steel, we believe CREST will soon achieve a successful turnaround, and is well set on its planned growth programme. This transaction is further proof of the success of the Insolvency and Bankruptcy Code (IBC).&#8221; PTI ABI  HVA HVA HVA<\/p>\n<div class=\"trade-after-content\" id=\"trade-128732160\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 New Delhi, Apr 5 (PTI) UK-based advisory and investment firm Nithia Capital on Tuesday announced the acquisition of Crest Steel and Power Pvt Ltd (CREST) in Chhattisgarh for Rs 600 crore through an insolvency process. \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 This acquisition has been completed under an insolvency process in [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-33976","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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