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JSW Steel rose 1.25% to Rs 356.15 after the company said its subsidiary entered into an agreement to acquire steel facilities at Piombino, Italy. JSW Steel Italy, the company s subsidiary, entered into a share purchase agreement (SPA) dated 21 December 2020 with Industrial Development Corporation (IDC), South Africa, for acquisition of 30.73% share capital of GSI Lucchini for a cash consideration of 1 million euros. The balance 69.67% of GSI is held by JSW Steel Italy. GSI s manufacturing unit is located in Piombino, Tuscany Region in Italy. IDC is owned by the Government of South Africa under the supervision of the Department of Trade Industry and Competition.

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