JSW Steel Limited has announced its acquisition of a 100% equity interest in thyssenkrupp Electrical Steel India Private Limited (tkES India) through a joint venture with JFE Steel Corporation of Japan, on Friday.

This acquisition, which was approved by the Board of Directors of JSW Steel, is part of a strategic move to enhance its operations in the electrical steel segment.

“Pursuant to Regulation 30 of the SEBI Listing Regulations, we confirm that Jsquare Electrical Steel Nashik Private Limited, a wholly owned subsidiary of JSW JFE Electrical Steel Private Limited, has entered into a share purchase agreement to acquire 100% equity shares of tkES India,” JSW Steel Limited said in a press release.

The agreement includes the licensing and transfer of an associated technology package from the thyssenkrupp group, which is crucial for the operations of tkES India.

“The completion of the transaction is subject to receipt of regulatory approval and the satisfaction of customary conditions precedent,” the release noted.