OCL Iron & Steel Acquires Aron Auto Ltd
OCL Iron And Steel Ltd has acquired 
Aron Auto Ltd. Financial Details of the transaction were not disclosed.Consequent to the acquisition, it has become subsidiary of OCL Iron & Steel Limited.
Not much is available about Aron Auto.
This is OCL Iron's second acquisition in a month. Earlier in January it acquired 100% stake in BS Ispat Ltd through its SPV - Oriental Iron and Casting Ltd.
Orissa based OCL Iron and Steel manufactures and sells steel billets and sponge iron products in India. The company has captive iron and coal mines of around 5 mn tonnes and 20 mn tonnes respectively. It has a sponge unit with 20,000 tonne annual capacity and a 14 Mw power plant, working on waste heat produced by the plant.
OCL Iron on BSE
In 2010, Garima Buildprop acquired 60.83% stake in OCL from the outgoing promoters of the company - Ragu Hari Dalmia and R H Dalmia Trust and further acquired 15.38% stake from the general public through open offer, which resulted in acquisition of 76.21% stake in the company and subsequently became the holding firm of OCL.
Earlier in Jan'11, Amtek Auto acquired 10% stake in Garima Buildporp Private Limited.
| Readers' Comments | Post a Comment >> |
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 06/02/12 | Aron Auto - OCL Iron | M&A | OCL Iron and Steel Limited | - |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 03/05/12 | Private Equity | Monetary Authority of Singapore | Samvardhana Motherson Finance Limited | 41.72 | Completed |
| 26/04/12 | Private Equity | International Finance Corporation | ATC Tires Private Limited | 160.00 | Planned |
| 26/04/12 | Private Equity | Commercial Engineers & Body Builders Co. Limited | - | Completed | |
| 25/04/12 | IPO / Offerings | Samvardhana Motherson Finance Limited | 315.88 | Called Off |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| OCL Iron and Steel Limited | Garima Buildprop Private Limited | Vill. lamloi, PO. Garvana |
Sponge Iron India Limited Tata Steel Limited Rashtriya Ispat Nigam Limited Ramsarup Industries Limited Mittal Corp Limited |
www.oclsteel.in |
| Aron Auto Limited | 4, Bhanot Apartments, Local Shopping Centre, Pushapvihar | |||
| Dealforwards |  |
| May 16, 2012... | Piramal Healthcare Acquires Decision Resources Group |
|
| May 17, 2012... | Car Rental Firm Carzonrent Acquires QCABS |
|
| May 21, 2012... | Healthkart Acquires Health Nutrition E-store Madeinhealth.com |
|
| May 18, 2012... | Panchshil Realty Buys Back IREO, Merrill Lynch's Stake In Three Projects |
|
| May 15, 2012... | A Profitable Injection Mould Design & Mfg Co Looking For A Strategic Investor |
|
