26
Mar
16:14
ArcelorMittal ceases Uttam Galva promotion, turns to Essar
Uttam Galva has received approval from India’s stock exchanges to cease being a company promoted by ArcelorMittal. This removes a major obstacle to the world’s largest steelmaker’s proposed acquisition of insolvent Essar Steel.
ArcelorMittal had its bid for Essar Steel rejected last week on the grounds it remained a promoter in Uttam Galva, which itself is a company that has defaulted on loan payments (see Kallanish 22 March). This was despite …
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Anonymous
Very good overview of the weekly steel market.
Anonymous