Deals
21 September 2023, 2:13 pm 1 minute
Reuters exclusively reported that India’s JSW Steel Ltd (JSTL.NS) is slowing down the process to buy a stake in the steelmaking coal unit of Canada’s Teck Resources (TECKb.TO). Ties between India and Canada deteriorated sharply after New Delhi and Ottawa expelled each other’s diplomats in a dispute over the murder of a Sikh separatist leader in the Canadian province of British Columbia in June.
Market Impact
India on Thursday suspended visa services for Canadian citizens, a foreign ministry spokesperson said, citing security threats to its staff in its consulates in Canada. The source said discussions between JSW Steel – India’s largest steelmaker by capacity – and Teck over the stake sale had slowed down, although work on the paperwork continued.
Article Tags
Topics of Interest: Deals
Type: Reuters Best
Sectors: Industrial Goods & Manufacturing
Regions: Asia
Countries: India
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
