Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Stock

Nippon Steel to sell $211 million in assets to manage debt amid U.S. Steel deal

admin by admin
September 20, 2024
in Stock
0
Nippon Steel to sell $211 million in assets to manage debt amid U.S. Steel deal
0
SHARES
7
VIEWS
Share on FacebookShare on Twitter

TOKYO (Reuters) – Nippon Steel plans to sell at least 30 billion yen ($211 million) in assets in this fiscal year to manage its debt, the Nikkei quoted its vice chairman as saying on Friday, as it waits to know the fate of its $14.9 billion bid for U.S. Steel.

Earlier this year, Nippon Steel agreed with three Japanese megabanks for $16 billion in loans to fund the acquisition of U.S. Steel. However, the deal is facing political opposition in the United States amid the Nov. 5 presidential elections.

Nippon Steel plans to sell at least 30 billion yen in assets including real estate and inventories to improve capital efficiency amid the U.S. Steel takeover, the Japanese steelmaker’s vice chairman, Takahiro Mori, was quoted by Nikkei newswire as saying.

Nippon Steel did not immediately reply to a Reuters request for a comment.

The Japanese company’s debt-to-equity ratio is expected to increase to 0.9 from 0.5 as a result of the U.S. Steel deal which both companies target to close by the end of December, pending approvals.

This ratio may come down to 0.7 by the end of March if certain steps are taken, Mori told Nikkei.

($1 = 142.0100 yen)

This post appeared first on investing.com

Previous Post

India stocks higher at close of trade; Nifty 50 up 1.48%

Next Post

Families of workers killed in Baltimore bridge collapse sue cargo ship owner, operator

admin

admin

Next Post
Families of workers killed in Baltimore bridge collapse sue cargo ship owner, operator

Families of workers killed in Baltimore bridge collapse sue cargo ship owner, operator

Trending News

Global coffee crisis brews as soaring prices disrupt supply chains and rattle industry

Global coffee crisis brews as soaring prices disrupt supply chains and rattle industry

March 8, 2025
Long BK: Bank of New York Mellon, Bullish Breakout Post-Earnings, Targeting $90

Long BK: Bank of New York Mellon, Bullish Breakout Post-Earnings, Targeting $90

January 16, 2025
The many flavors of Ben & Jerry’s corporate activism

The many flavors of Ben & Jerry’s corporate activism

November 16, 2024
Subscribe to Insightful Word


    Recent News

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    August 7, 2025
    Affirm stock price is rising: is it a buy before earnings?

    Affirm stock price is rising: is it a buy before earnings?

    August 7, 2025
    Intel stock plunges sharply after Trump calls on CEO to resign: here’s why rebound may take time

    Intel stock plunges sharply after Trump calls on CEO to resign: here’s why rebound may take time

    August 7, 2025
    Goldman Sachs boosts Nvidia price target to $200 ahead of Q2 earnings

    Goldman Sachs boosts Nvidia price target to $200 ahead of Q2 earnings

    August 7, 2025

    Recent News

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    August 7, 2025
    Affirm stock price is rising: is it a buy before earnings?

    Affirm stock price is rising: is it a buy before earnings?

    August 7, 2025

    Latest News

    • Dow futures soar 250 points today: 5 things to know before Wall Street opens
    • Affirm stock price is rising: is it a buy before earnings?
    • Intel stock plunges sharply after Trump calls on CEO to resign: here’s why rebound may take time

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.