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India's SAIL to sell stakes in three units via auction
November 29, 2016 / 2:26 PM / 10 months ago

India's SAIL to sell stakes in three units via auction

MUMBAI, Nov 29 (Reuters) - State-run Steel Authority of India Ltd (SAIL) has received approval ‘in principle’ from the government to sell stakes in three units, the company said in a statement on Tuesday.

The company will be selling stakes in the Bhadrawati, Salem and Durgapur steel plants through a two-stage auction process to strategic buyers, the statement said.

SAIL is India’s biggest state-owned steel company. (Reporting by Promit Mukherjee; Editing by Mark Potter)

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