Sajjan Jindal-led JSW Steel is planning to bid for a majority stake in Teck Resources’ coking coal business. The Canadian company is considering various proposals, including a partial sale of its steel-making coal business.
The Indian company has initiated discussions with Teck Resources to acquire anywhere between 20% and 75% stake in latter’s steel-making coal or coking coal, business. The stake would be priced anywhere between $1 billion and $8 billion, depending on the percentage it intends to acquire, sources close to the development said.
