Mumba, Dec. 4 -- In a deal that is expected to ease its stretched balance sheet while sustaining an expansion drive, billionaire Sajjan Jindal-led JSW Steel will transfer the steel assets of Bhushan Power & Steel Ltd (BPSL) into a new 50:50 joint venture with Japan's JFE Steel Corp. The deal, anchored by JFE's Rs.15,750-crore commitment, is expected to nearly halve JSW Steel's debt and ring-fence the BPSL assets under a clean JV structure. This will be the second joint venture between the two companies, the other being JSW JFE Electrical Steel. This is one of the largest foreign direct investments by a Japanese firm in India and comes close on the heels of Sumitomo Mitsui Banking Corp. investing Rs.13,483 crore for a 20% stake in Yes Bank. ...