Monday, October 22, 2018

ArcelorMittal to acquire Essar Steel

ArcelorMittal has won the race to acquire debt-laden Essar Steel as the Committee of Creditors tasked with the resolution process picked ArcelorMittal for the insolvent asset.  ArcelorMittal offered Rs 8,000 crore as a capital infusion into Essar Steel, while the other bidder Vedanta offered Rs 5,000 crore.

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