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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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ArcelorMittal raises Essar Steel bid to Rs 49,000 crore

ArcelorMittal raises Essar Steel bid to Rs 49,000 crore

Tue, Sep 11, 2018

Global steel giant ArcelorMittal stirred up a hornet's nest on Monday when it shot off a revised proposal to the lenders of bankrupt Essar Steel, raising its bid to Rs 42,000 crore from the earlier Rs 37,000 crore.

ArcelorMittal revises bid for Essar Steel to Rs 42,000 cr

ArcelorMittal revises bid for Essar Steel to Rs 42,000 cr

Tue, Sep 11, 2018

The NCLAT had allowed the Committee of Essar Steel Creditors, who are auctioning the company to recover their Rs 49,000 crore unpaid loans, to negotiate the best price from eligible bidders.

JSW Steel plans bid for ArcelorMittal's Romanian plant

JSW Steel plans bid for ArcelorMittal's Romanian plant

Thu, Jun 21, 2018

India`s biggest steelmaker JSW Steel is expected to make a bid for ArcelorMittal`s Galati plant in Romania, three sources told Reuters, potentially competing against Ukraine`s Metinvest and Italy`s Marcegaglia.

ArcelorMittal parks Rs 7,000 crore with SBI to clear Uttam dues

ArcelorMittal parks Rs 7,000 crore with SBI to clear Uttam dues

Wed, May 16, 2018

The move to park about Rs 7,000 crore in an escrow account of State Bank of India (SBI) follows ArcelorMittal's bid for Essar Steel coming in for questioning because of its past shareholding in loan defaulter firm, Uttam Galva Steel.

ArcelorMittal gives upbeat outlook, beats earnings forecast

ArcelorMittal gives upbeat outlook, beats earnings forecast

Fri, May 11, 2018

The world`s largest steelmaker ArcelorMittal said the outlook for 2018 had improved after a sharp pick-up in steel prices and increased iron ore shipments helped it deliver higher-than-expected first-quarter earnings on Friday.

ArcelorMittal hires Bank of America to sell European steel assets

ArcelorMittal hires Bank of America to sell European steel assets

Wed, May 09, 2018

ArcelorMittal told Reuters on Wednesday that it had appointed Bank of America-ML to handle the asset sale. European and Asian steelmakers will be among the likely buyers as the European Commission has said the steel plants would be sold to buyers who would continue to operate them, allowing them to compete with ArcelorMittal.

Essar Steel sale: ArcelorMittal to pay Uttam Galva dues

Essar Steel sale: ArcelorMittal to pay Uttam Galva dues

Fri, May 04, 2018

The world’s largest steelmaker ArcelorMittal on Thursday asserted that its bid for debt-laden Essar Steel is “eligible” and indicated that any pay off towards outstanding dues of Uttam Galva, a firm in which it was a minority shareholder till sometime back, would be a “goodwill gesture”.

Essar Steel sale: Numetal, ArcelorMital add riders to bids

Essar Steel sale: Numetal, ArcelorMital add riders to bids

Mon, Apr 30, 2018

Numetal Consortium and ArcelorMittal, the two initial bidders for Essar Steel, have attached conditions before they make any correction in their bid or any action they would take to acquire the steel asset.

NuMetal, LNM back in fray for Essar Steel?

NuMetal, LNM back in fray for Essar Steel?

Fri, Apr 20, 2018

The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Thursday put the ball back in the committee of creditors’ (CoC) court by ordering it and the resolution professional (RP) of Essar Steel to re-examine the eligibility of the two bids submitted in the first round.

Mukesh Ambani, Lakshmi Mittal on Bloomberg Billionaires Top 100 Index; see who else made it

Mukesh Ambani, Lakshmi Mittal on Bloomberg Billionaires Top 100 Index; see who else made it

Tue, Apr 03, 2018

The RIL chairman’s wealth has grown by USD 9.3 billion as compared to the same period last year, but it declined by USD 2.3 billion year-to-date. The other four Indians who have made it to the list include ArcelorMittal CEO Lakshmi Mittal (51), Shapoorji Pallonji Group Chairman Pallonji Mistry (61), Wipro Chairman Azim Premji (66), and HCL Chairman Shiv Nadar (85), said a report.

Bids for Essar Steel by Numetal, ArcelorMittal rejected by lenders

Bids for Essar Steel by Numetal, ArcelorMittal rejected by lenders

Wed, Mar 21, 2018

While ArcelorMittal India has been found ineligible for its joint venture with Uttam Galva, which is at the NCLT awaiting resolution, Numetal's bid was done in by the fact that one of the promoters of the special purpose vehicle is Rewant Ruia, the son of Essar Group promoter Ravi Ruia, who is one of the original promoters of Essar Steel.

JSW Steel bids for Bhushan Steel

JSW Steel bids for Bhushan Steel

Sun, Feb 04, 2018

Luxembourg-based ArcelorMittal said in a statement that it has not submitted resolution plan Bhushan steel

ArcelorMittal says French pollution allegations are groundless

ArcelorMittal says French pollution allegations are groundless

Wed, Jul 26, 2017

The world`s largest steelmaker, ArcelorMittal , said on Tuesday that its internal investigation had found allegations of illicit dumping of acid waste from a French plant were groundless.

SAIL, ArcelorMittal JV may be finalised this month: Chaudhary Birender Singh

SAIL, ArcelorMittal JV may be finalised this month: Chaudhary Birender Singh

Wed, May 24, 2017

SAIL, ArcelorMittal JV may be finalised this month: Chaudhary Birender Singh.Watch the full segment for more details.

ArcelorMittal re-elects Lakshmi Mittal on board for next 3 years

ArcelorMittal re-elects Lakshmi Mittal on board for next 3 years

Wed, May 10, 2017

The term of four directors -- Mittal, Lewis Kaden, Bruno Lafont and Michel Wurth -- was due to expire this year.

Reliance Industries' Mukesh Ambani tops Indian billionaire list in Forbes survey; see full list

Reliance Industries' Mukesh Ambani tops Indian billionaire list in Forbes survey; see full list

Tue, Mar 21, 2017

Reliance Industries' chairman and MD Mukesh Ambani has topped the list of Indian billionaires featured in Forbes recent survey titled 'The World's Billionaires' with global ranking of 33 and networth of $23.2 billion, find out names of other Indians in the list.

South African steel industry may become extinct: ArcelorMittal

South African steel industry may become extinct: ArcelorMittal

Sun, Nov 20, 2016

AMSA was set to make a huge loss for the six months ending December.

ArcelorMittal steels investors for brittle profits

ArcelorMittal steels investors for brittle profits

Tue, Nov 08, 2016

Global steel giant ArcelorMittal said on Tuesday it has earned a net profit of $700 million (633 million euros or nearly Rs 4,656.93 crore) last quarter, but warned low prices in the United States (US) and rising input costs would squeeze future earnings.

Tata Steel plans to double capacity of Kalinganagar plant in 2nd phase of expansion

Tata Steel plans to double capacity of Kalinganagar plant in 2nd phase of expansion

Thu, Sep 29, 2016

Tata Steel is making good progress on acquiring the land it needs to double the capacity of its newest steel plant in Odisha to meet growing demand in the country, a company executive said.

Illegal price fixing costs ArcelorMittal $110 million

Illegal price fixing costs ArcelorMittal $110 million

Mon, Aug 22, 2016

Steelmaker ArcelorMittal in South Africa has agreed to pay a $110-million fine for illegal price fixing, the country`s competition commission announced Monday.

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