ArcelorMittal Takes a Big Step Toward Completing Its Proposed Acquisition of Essar Steel India
On Oct. 26, the committee of creditors behind Essar Steel India agreed to accept the acquisition terms proposed by ArcelorMittal and joint venture partner Nippon Steel and Sumitomo Metal. More than 92% of creditors voted in favor.This represents a significant milestone for ArcelorMittal, as the bidding process has been a winding road with various starts and stops over the last year. ArcelorMittal had submitted its initial expression of interest to acquire Essar back in October 2017. The sale pr...
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