The JSW Group chairman is just days away from signing a deal to buy a 49% stake in the India unit of the iconic British brand. The deal, if successful, will change the face of the $23 billion group in more ways than one.
In a deal that could change the dynamics of India’s auto and steel sectors, Sajjan Jindal’s JSW Group is set to acquire a 49% stake in MG Motor India, the local unit of the iconic British brand. It is owned by Chinese auto giant SAIC Motor Corp.
The two sides, who have been in talks for more than seven months, are close to sewing up the deal and an announcement could be made by the first week of December, say two senior executives with direct knowledge of the deal, on condition of anonymity. “The JSW Group will take a 49% …
Prince leads the newsroom at The Morning Context as managing editor. A fascination with the written word has taken Prince to some of the leading newsrooms across the country, including The Economic Times, Dow Jones Newswires, Forbes India and Moneycontrol. In a career spanning 20 years, Prince has led teams, managed pages, projects and special editions, and has authored The Consolidators, published by Penguin Random House in 2017.
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