ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

Nippon Steel to sell off $1.9bn in assets to buy India's Essar

Japanese steelmaker offloads entire stakes in Subaru, Bridgestone and Sumco

Stainless steel coils seen at a Nippon Steel plant in Japan. (Photo courtesy of Nippon Steel)

TOKYO -- Nippon Steel will offload as much as 200 billion yen ($1.85 billion) in assets through March 2021, going beyond its original sales plan to finance the acquisition of India's Essar Steel, Nikkei has learned.

The sales will center on fixed assets, such as cross-shareholdings and land. The Japanese steelmaker had initially planned to sell 100 billion yen in assets in the three years through fiscal 2020 but decided to boost the amount after it closed in on that goal last year.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more