Jindal Steel & Power on Saturday said it has discontinued talks with United Arab Emirates-based Al Ghaith Holdings regarding the purchase of Shadeed Iron & Steel.
In a statement, Jindal Steel said it was not able to come to an agreement with Al Ghaith due to reasons including lack of clarity on land titles and incremental liabilities.
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Late last month, the Economic Times newspaper had said Jindal Steel was close to acquiring Oman-based Shadeed for nearly $500 million.
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