Sesa Goa’s 51% stake held by Mitsui Corp. through its subsidiary Finsider International is up for sale. Major companies such as Arcelor-Mittal, Sterlite Industries, mining major BHP Billiton are interested in buying out Mitsui Corp. Bids from interested companies have been sent to JM Morgan Stanley, Mitsui’s advisor for the deal and are scheduled to close on Thursday.
Large-scale Indian steel players such as Tata Steel and JSW Steel, mining firm MSPL, global mining majors CVRD and Rio Tinto and the Aditya Birla group are some of the other names that are doing the rounds for bidding.
The Goan company has already attracted good interest among foreign investors, with US-based pension fund CalPERS (Californian Public Employees Retirement System) owning about 1.44% in Sesa Goa.
Read The Economic Times article.
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