In an announcement, JSW Steel had acquired Heidelberg Cement India grinding facility located in Raigad, Maharashtra. The 0.6 million metric tonnes per annum production was purchased for an undisclosed amount to adress 'as a going concern on slump sale basis'.

The two firms signed the Business Transfer Agreements to formalize the acquisition last October 5. These then were included in the their respective fiiings with the BSE. "The transaction will be consummated only after obtaining all relevant approvals required under applicable laws," in a statement issued jointly by the parties. There was no mention though as to the value of the deal.

The 'going concern principle' is the assumption that the business would continue to operate in the forseeable feature. 

The companies first made the sale public last May 2013. It said that JSW Steel woudl acquire the Raigad cement grinding facility owned by Heidelberg Cement India located in Maharashtra. JSW Steel acquired the company through its associatw firm JSW Ispat Steel.