Exclusive: JSW Steel and Duferco in talks on steel pre-payment deal

 Exclusive: JSW Steel and Duferco in talks on steel pre-payment deal

LONDON (Reuters) - Indian conglomerate JSW Steel and global trading firm Duferco are in advanced talks on a five-year cash-for-steel prepayment deal, four sources familiar with the matter said.

The two sources said the deal, expected to be signed this quarter, would be worth about $600 million. Switzerland-based Duferco, backed by banks, would provide the cash to be repaid with physical steel.

(Reporting By Julia Payne and Maytaal Angel; Additional reporting by Promit Mukherjee in Mumbai; Editing by David Goodman)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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Updated Date: Jan 29, 2019 00:07:09 IST