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ArcelorMittal

Flexing muscles! New game set to begin in Indian steel market - ArcelorMittal to heat up competition

Flexing muscles! New game set to begin in Indian steel market - ArcelorMittal to heat up competition

Sat, Nov 16, 2019

Delivering a big verdict, the Supreme Court has allowed ArcelorMittal to make payment for Essar Steel India, paving the way for acquisition of the bankrupt steel maker by the Luxembourg-headquartered entity.

SC Essar Steel Verdict: Banks to get Rs 50,000 crore fund; NPA set to go down

SC Essar Steel Verdict: Banks to get Rs 50,000 crore fund; NPA set to go down

Fri, Nov 15, 2019

Supreme Court ruling in Essar Steel insolvency case will pump around Rs 50,000 crore in the Indian banking system that would help them contain their respective NPAs.

ArcelorMittal-Essar Steel: Why SC NCLAT ruling is a major success of insolvency mechanism in India - Explained

ArcelorMittal-Essar Steel: Why SC NCLAT ruling is a major success of insolvency mechanism in India - Explained

Fri, Nov 15, 2019

As the Supreme Court on Friday set aside the NCLAT ruling on Essar Steel that provided for equal distribution of proceeds between financial and operational creditors, decks have been cleared for ArcelorMittal's acquisition of the bankrupt steel company.

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SC paves way for ArcelorMittal's takeover of Essar Steel

SC paves way for ArcelorMittal's takeover of Essar Steel

Fri, Nov 15, 2019

SC paves way for ArcelorMittal's takeover of Essar Steel. To know more watch the video

Essar Steel Insolvency: SC quashes NCLAT ruling, clears ArcelorMittal takeover bid; SBI to PNB, bank stocks skyrocket

Essar Steel Insolvency: SC quashes NCLAT ruling, clears ArcelorMittal takeover bid; SBI to PNB, bank stocks skyrocket

Fri, Nov 15, 2019

Essar Steel Insolvency: The Supreme Court has set aside the National Company Law Appellate Tribunal (NCLAT) judgement on Essar Steel case on November 15th.

Rs 2,500 crore in ArcelorMittal bid for Essar Steel is for working capital: CoC to NCLAT

Rs 2,500 crore in ArcelorMittal bid for Essar Steel is for working capital: CoC to NCLAT

Thu, May 16, 2019

Lenders of Essar Steel informed NCLAT that out of Rs 42,000-cr coming from the resolution plan of ArcelorMittal, Rs 2,500 crore has been marked as the working capital.

ArcelorMittal gets European Commission nod to sell steel-making assets in Europe to Liberty House

ArcelorMittal gets European Commission nod to sell steel-making assets in Europe to Liberty House

Wed, Apr 17, 2019

ArcelorMittal on Wednesday said that it has received approval from the European Commission to sell steel-making assets in Europe to Liberty House.

NCLAT may ask ArcelorMittal to pay Rs 42k cr in separate account

NCLAT may ask ArcelorMittal to pay Rs 42k cr in separate account

Tue, Apr 09, 2019

The National Company Law Appellate Tribunal (NCLAT) on Tuesday said it may direct ArcelorMittal, in the next hearing on April 23, to deposit Rs 42,000 crore for acquisition of the insolvent Essar Steel in a separate account.

NCLAT refuses stay on NCLT nod to ArcelorMittal's takeover bid for Essar Steel

NCLAT refuses stay on NCLT nod to ArcelorMittal's takeover bid for Essar Steel

Fri, Mar 15, 2019

NCLAT also asked State Bank of India-led CoC to bring a fresh distribution plan at the next date of hearing, saying "there cannot be any discrimination... All are equal".

Ex-Essar Steel directors approaches NCLT against ArcelorMittal takeover

Ex-Essar Steel directors approaches NCLT against ArcelorMittal takeover

Mon, Mar 11, 2019

On Friday, the Ahmedabad bench of the NCLT had approved the lenders' plan to let global steel giant ArcelorMittal take over the debt-idden Essar Steel.

NCLT clears ArcelorMittal's Rs 42,000-crore bid for Essar Steel

NCLT clears ArcelorMittal's Rs 42,000-crore bid for Essar Steel

Fri, Mar 08, 2019

The National Company Law Appellate Tribunal (NCLAT) had last month directed the NCLT Ahmedabad bench to take a final decision on ArcelorMittal`s bid for the acquisition of Essar Steel by March 8, failing which it would pass an order.

NCLT approves ArcelorMittal’s takeover bid for Essar Steel

NCLT approves ArcelorMittal’s takeover bid for Essar Steel

Fri, Mar 08, 2019

The National Company Law Tribunal (NCLT) approved steel giant ArcelorMittal SA's takeover bid for debt-ridden Essar Steel. Watch full video to know more.

ArcelorMittal says facing risks like excess capex on proposed Essar acquisition

ArcelorMittal says facing risks like excess capex on proposed Essar acquisition

Tue, Feb 26, 2019

"Capital expenditure in excess of budgeted amounts, delays and difficulties in achieving commercial objectives, therefore, cannot be ruled out," the company said.

ArcelorMittal says facing 'risks' like excess capex on proposed Essar acquisition

ArcelorMittal says facing 'risks' like excess capex on proposed Essar acquisition

Tue, Feb 26, 2019

ArcelorMittal Monday said it is staring at various risks including excess capex and delays in achieving commercial objectives in view of its proposed acquisition of debt-laden Essar Steel India.

SAIL asks ArcelorMittal to expedite JV agreement process

SAIL asks ArcelorMittal to expedite JV agreement process

Fri, Dec 28, 2018

SAIL has asked ArcelorMittal to expedite the process for signing a definitive agreement to set up a joint venture for high-end automotive steel plant, a senior official said Friday.

Essar Steel debt resolution hits fresh hurdle as GAIL, Getco move NCLT seeking rejection of ArcelorMittal bid

Essar Steel debt resolution hits fresh hurdle as GAIL, Getco move NCLT seeking rejection of ArcelorMittal bid

Tue, Nov 20, 2018

Two public sector undertakings, GAIL and Getco, have approached National Company Law Tribunal (NCLT) separately against Essar Steel lenders’ approval to ArcelorMittal’s bid for the bankrupt steel behemoth, saying operational creditors were left out of it.

India's steel giants to focus on product mix, quality to take on ArcelorMittal

India's steel giants to focus on product mix, quality to take on ArcelorMittal

Wed, Nov 14, 2018

India`s two biggest private sector steel companies JSW Steel Ltd and Tata Steel Ltd are banking on their diversified product mix to take on steel giant ArcelorMittal SA as it gears up to enter the country.

Essar Steel bankruptcy resolution: 29 operational creditors blast ArcelorMittal deal

Essar Steel bankruptcy resolution: 29 operational creditors blast ArcelorMittal deal

Wed, Nov 14, 2018

Essar was announced by RBI as a wilful defaulter as it has a huge chunk of debt turned-stressed assets with a consortium of banks.

Essar to deleverage Rs 1.25 lakh cr debt if its offer for Essar Steel is accepted

Essar to deleverage Rs 1.25 lakh cr debt if its offer for Essar Steel is accepted

Sun, Oct 28, 2018

Ruia-family owned Essar Group would deleverage about Rs 1.25 lakh crore of debt - the largest by any corporate if its offer to repay lenders of Essar Steel in full is accepted, company sources said.

ArcelorMittal the chosen one to buy Essar’s steel arm, but guess what! Essar Steel proposes to pay Rs 54,389 cr to exit insolvency

ArcelorMittal the chosen one to buy Essar’s steel arm, but guess what! Essar Steel proposes to pay Rs 54,389 cr to exit insolvency

Fri, Oct 26, 2018

Essar was announced by RBI as a wilful defaulter as it has a huge chunk of debt turned stressed assets with a consortium of banks.

Essar Steel shareholders offer to pay Rs 54,389 cr to clear all dues of lenders

Essar Steel shareholders offer to pay Rs 54,389 cr to clear all dues of lenders

Thu, Oct 25, 2018

Shareholders of embattled Essar Steel Thursday offered to pay an aggregate of Rs 54,389 crore including Rs 47,507 crore upfront cash payment to clear all dues owned to lenders so that the company can be pulled out of insolvency proceedings.

ArcelorMittal to do a Reliance Jio? Lakshmi Mittal out to shock and awe

ArcelorMittal to do a Reliance Jio? Lakshmi Mittal out to shock and awe

Thu, Oct 25, 2018

Many experts view the Lakshmi Narayan Mittal-promoted steel company's foray into the domestic market as a game changer. They believe it could do to the steel sector what Jio's entry did to the telecom sector.

Rs 52,000 crore deal! Debt-laden Essar Steel set to be sold to ArcelorMittal

Rs 52,000 crore deal! Debt-laden Essar Steel set to be sold to ArcelorMittal

Mon, Oct 22, 2018

Luxembourg-based ArcelorMittal and its consortium will cough up Rs 52,000 crore to take over Ruia-promoted Essar Steel and Odisha Slurry Pipeline Infrastructure, two sources close to the development said.

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