NCLT approves ArcelorMittal’s Rs 45,000 cr Essar Steel takeover plan

ArcelorMittal, which has been engaged in a drawn-out attempt to acquire Essar Steel since 2017, had made a 420 billion rupee ($5.99 billion) bid for the bankrupt Indian steelmaker.

business Updated: Mar 08, 2019 19:00 IST

The National Company Law Tribunal (NCLT) approved steel giant ArcelorMittal SA’s takeover bid for debt-ridden Essar Steel, television news channels reported on Friday.(REUTERS)

The National Company Law Tribunal (NCLT) approved steel giant ArcelorMittal SA’s takeover bid for debt-ridden Essar Steel, television news channels reported on Friday.

ArcelorMittal, which has been engaged in a drawn-out attempt to acquire Essar Steel since 2017, had made a 420 billion rupee ($5.99 billion) bid for the bankrupt Indian steelmaker.

First Published: Mar 08, 2019 18:51 IST

NCLT approves ArcelorMittal\'s Rs 45\,000 cr Essar Steel takeover plan

NCLT approves ArcelorMittal’s Rs 45,000 cr Essar Steel takeover plan

ArcelorMittal, which has been engaged in a drawn-out attempt to acquire Essar Steel since 2017, had made a 420 billion rupee ($5.99 billion) bid for the bankrupt Indian steelmaker.