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Construction : Deals | November 2012 | Source : Construction Update

Uttam Galva denies reports of buying stake in Lloyds Steel

Uttam Galva has denied media reports that the company has acquired a majority stake of about 58.35 per cent in ailing Lloyds Steel.

Uttam Galva Steels has not acquired any stake in Lloyds Steel Industries, Uttam Galva Steels clarified in a note to Bombay Stock Exchange (BSE).

However, the Miglani family-controlled Group Companies namely Ultimate Logistics Solutions and Metallurgical Engineering & Equipment are in the process of acquiring a majority stake in LSIL, added the note.

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