NMDC is planning to acquire Mozambique asset which belongs to Nagpur-based Sunflag Iron and Steel Company Limited and the other asset is in Brazil.
NMDC already has MoU to acquire 15% stake in Sunflag Iron and Steel’s iron ore mines in the Africa. The Brazil property has a resources of one Bn tonnes, for which the due diligence is over.
NMDC expects to conclude the deals this year.
Last month, NMDC had signed MOU to acquire Amplus, a Brazilian iron ore company. It will initially invest around $10-15 Mn to acquire 26% holding and buy up to 50% subsequently. Amplus mine is located around 150 km close to the coast with reserves of over 1.5 bn tonne.
SAIF Partners, one of the early backers of BSE listed local search directory, Just Dial has sold close to 2.4% stake in the company for a total of INR254 Cr. The part exit fetches the fund, a 30x returns on its seven year old investment.