JSW Steel and JFE Steel form 50:50 joint venture for Bhushan Power steel business

M&A / JV 30 Jun 2026 · Announced· ✓ Verified

JSW Steel and JFE Steel Corporation jointly announced a 50:50 joint venture to acquire the steel business of Bhushan Power and Steel Limited, a company in insolvency. The transaction appears to be structured as a resolution plan approved under the Insolvency and Bankruptcy Code. Bhushan Power operates significant steelmaking capacity; the JV will combine JSW's domestic steel and mining footprint with JFE's advanced technology and operational expertise. Regulatory approvals (CCI, NCLT, sectoral clearances) would be prerequisites for completion.

Why it mattersCross-border IBC resolution leveraging a foreign strategic investor to unlock value in a large idle steelmaking asset, with 50:50 parity structure suggesting equal management/investment commitment and potential for technology transfer in Indian steel-a precedent for global partnerships in IBC.
SectorMetals & Mining
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