New Delhi- Major acquisitions are done and dusted, yet growth hungry steel makers haven’t ruled out further M&As though only small targets are around.
“I don’t think there are too many opportunities, but certainly if anything comes to the table, we will study that,” said Mr. TV Narendran, CEO & MD of Tata Steel Ltd.
Tata Steel acquired Bhushan Steel Ltd and Usha Martin while its competitor JSW Steel Ltd acquired Monnet Ispat & Energy Ltd in the recent past.
With the most attractive assets taken over, only small firms could be available from amongst hundreds of producers in India.
Overseas assets could also be eyed.
“I don’t think there is much available now barring very small companies,” said Dr Vinod Nowal, deputy MD, JSW Steel.
“Overseas we will see… if any opportunities come, we will examine it,” Nowal added.
Narendran said Tata Steel would be focused on India.
Both executives spoke on the sidelines of an awards event by the Steel Ministry last Friday.
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