ArcelorMittal Draws Closer to Tying Up Essar Steel Deal
10/22/2018 - ArcelorMittal has been declared the preferred bidder for India’s Essar Steel Ltd., bringing the world’s biggest steel producer one step closer to securing a manufacturing base in India.
In a statement, ArcelorMittal said it will now enter into final negotiations with Essar’s creditors’ committee. Essar was one of a dozen companies forced into insolvency proceedings under India’s new bankruptcy laws last year.
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