Balasore Alloys

Zimbabwe Alloys Ltd has appealed the High Court judgment stopping the local ferrochrome producer from terminating the $90 million take-over bid by an Indian firm, Balasore Alloys as the tussle over the ownership of the mining concern turns…
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Indian firm Balasore Alloys said yesterday the deal to acquire 70 percent shareholding in Zimbabwe Alloys Limited was still on despite claims by judicial manager Reggie Saruchera this week that he had terminated the $90 million transaction.
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One of India’s leading ferrochrome manufacturers, Balasore Alloys, controlled by the Mittal family, is on the cusp of taking over chrome miner, Zimbabwe Alloys (Zim Alloys), with plans to inject nearly $100 million to revive the company.
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