Following the Supreme Court verdict on Essar Steel resolution plan, global steel giant ArcelorMittal said expects to complete the acquisition of the debt-ridden company by the end of this year.
ArcelorMittal India Private Limited’s (AMIPL) resolution plan for Essar Steel India Limited (‘ESIL’) has been unconditionally approved by the Supreme Court of India and the approval of AMIPL’s resolution plan is the final procedural step in ESIL’s corporate insolvency process, the company said in a statement.
“Completion of the transaction is now expected before the end of the year. After completion, ArcelorMittal will jointly own and operate ESIL in partnership with Nippon Steel Corporation Read More
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