According to the report, JSW Steel, one of India's largest steelmakers, announced the acquisition of its Italian subsidiary JSW Steel Italy S.R.L.Acquire Italian forging steel maker GSI Lucchini S.P.A. from South Africa's Industrial Development Cooperation.

JSW Steel Italy has held 30.73% of the remaining shares of GSI and the transaction value around 1 million Euros.

JSW Steel Italy originally owned 69.67 percent of GSI. As previously reported, JSW signed an acquisition agreement with Industrial Development Cooperation last December.