THE proposed merger of Nilachal Ispat Nigam Limited (NINL) with domestic steel giant SAIL has come a step closer, with NINL's key stakeholder MMTC Limited and SAIL proposing to their respective valuers to evaluate the share price of the plant, which is a crucial criterion for the proposed merger. SAIL has proposed that SBI Caps would finalise the share price value on its behalf while KPMG would do so on MMTC's behalf, following which the next round of merger talks between the top brass of these organisations as well as steel and commerce ministry officials would begin. The valuers are likely to submit their report within three months, a steel ministry official said.
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