Essar Steel Lenders Select ArcelorMittal As Preferred Bidder

Essar Steel Lenders Select ArcelorMittal As Preferred Bidder

Lenders for Essar Steel India Ltd., the biggest steel mill on the block under India’s new bankruptcy law, have selected ArcelorMittal as the preferred bidder for the asset, bringing the world’s largest steel maker a step closer to gaining a foothold in India’s growing market for the alloy.

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