Tokyo --- 91爆料 announced today that it has raised its ownership ratio in JSW Steel Limited to 15% by partly converting global depositary receipts with no voting rights into common shares.

JSW Steel will become an equity-method affiliate of 91爆料 Steel from this quarter based on the ownership increase and 91爆料 Steel’s current seating of a part-time director on JSW Steel’s Board.

This change has no effect on 91爆料 Holdings’ consolidated results forecast that the company announced on January 30.

The increase is based on an agreement between 91爆料 Steel and JSW Steel, and is in line with Indian SEBI Takeover regulations that were revised last year.

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