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Its advantage JSW in a three-cornered fight for Bhushan Power & Steel

Thursday, October 18, 2018, 4:07 PM

Lenders to the bankrupt Bhushan Power and Steel are understood to have backed the revised offer of Sajjan Jindal-led JSW Steel, which means that rival Tata Steel and UKs Liberty House have lost out in race to acquire the firm. JSW Steel's offer to pay out 41% of the lenders' dues is the second best offer by the acquirer firms through the insolvency process.