Nithia Capital, a UK-based alternative investment manager that specializes in transforming under-performing acquired facilities into financially healthy business, and CarVal Investors, a global alternative investment manager focused on distressed and credit-intensive assets, announced on Tuesday that they have completed the acquisition of Uttam Galva Metallics Limited (UGML) and Uttam Value Steel Limited (UVSL) for a total consideration of ₹2,000 crore. The purchase is done through Wardha Steel Holdings Pte Ltd, Nithia Capital’s Singapore-based joint venture holding company.
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