23
Jan
14:18
Essar Steel shareholders state case for re-acquisition
Essar Steel says the insolvency resolution plan proposed by its shareholders exceeds by INR 12,000 crores ($1.68 billion) the ArcelorMittal plan approved by creditors. It should therefore be selected as the winning bid to acquire the insolvent steelmaker.
Essar Steel’s plan, submitted under the recently-introduced Section 12A of the Insolvency and Bankruptcy Code (IBC), provides for payment of INR 54,389 crores to creditors. All classes of creditors w…
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Anonymous
Very good overview of the weekly steel market.
Anonymous