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The Indian government has completed the strategic disinvestment of FSNL, a subsidiary of MSTC Ltd, by transferring full shareholding to Japanese company Konoike Transport Co Ltd.

MSTC has signed a share purchase agreement with Konoike Transport Co. Ltd for strategic disinvestment of Ferro Scrap Nigam Limited (FSNL). The transaction will be completed for Rs 320 crore.

India's government approves the sale of Ferro Scrap Nigam Ltd (FSNL) to Japanese corporation Konoike Transport Co Ltd for Rs 320 crore, marking the privatization of the state-owned company.