Business News M&A

India’s bankruptcy court NCLT approves ArcelorMittal’s takeover of Essar Steel

India’s bankruptcy court National Company Law Tribunal (NCLT) approves ArcelorMittal’s takeover of 10 million tonne steel plant of Essar Steel ArcelorMittal confirmed the National Company Law Tribunal (NCLT) had approved the takeover of the 10 million tonne steel plant of Essar Steel by itself and Japan’s Nippon Steel & Sumitomo Metal Corp, paving the way […]

Business News M&A

ArcelorMittal said it is facing risks like excess capex on proposed Essar acquisition

ArcelorMittal says facing ‘risks’ like excess capex on proposed Essar acquisition The company said it provided a $567 million performance guarantee in connection with the execution of the resolution plan. TFM Watch ArcelorMittal on February 25 said it is staring at various risks including excess capex and delays in achieving commercial objectives in view of its […]