JSW Steel bids for Lucchini's assets

JSW is yet to receive a response to its bid. This USD 100 million deal will mark JSW's entry into Europe.

Private steel giant  JSW Steel confirmed that it is bidding for assets of Italy's Lucchini plant. JSW is yet to receive a response to its bid. This USD 100 million deal will mark JSW's entry into Europe. CNBC-TV18 broke this news three months ago.

Lucchini is Italy's second-largest steel plant by capacity. It was declared insolvent in 2012. The company is engaged in producing speciality long products like rolling mills manufacturing for European railways, bars for specialised auto industry and wire rod mills.

Also Read: JSW interested in buying Italy's Ilva steel plant, say sources

JSW Steel stock price

On September 16, 2014, JSW Steel closed at Rs 1274.90, down Rs 51.1, or 3.85 percent. The 52-week high of the share was Rs 1365.35 and the 52-week low was Rs 632.50.

The company's trailing 12-month (TTM) EPS was at Rs 97.49 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 13.08. The latest book value of the company is Rs 970.48 per share. At current value, the price-to-book value of the company is 1.31.

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