India’s Essar Group wins tussle for key Zimbabwean steel asset

Mineweb.com reports that the battle by two Indian companies over who would acquire Zimbabwe Iron and Steel is over, and the Essar Group appears to be the victor.

The editorial is quoted as saying:

The Mauritius-based Essar Energy Holdings is said to have acquired a 51% stake in Zisco. It was chosen ahead of JSPL. Other companies in the fray were Sino Zimbabwe Ltd and Sovereign Capitala, a consortium of local and South African investors, according to reports. The Zimbabwean Government plans to offload a further 9% soon, media reports have suggested.

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