ArcelorMittal clears final hurdle for Essar Steel takeover

India’s Supreme Court has approved ArcelorMittal’s acquisition of Essar Steel, ending years of legal wrangles.

“ArcelorMittal India Private Limited’s (AMIPL) resolution plan for Essar Steel India Limited (ESIL) has been unconditionally approved by the Indian Supreme Court and is the final procedural step in ESIL’s corporate insolvency process,” the company said on November 18.

Completion of the transaction is now expected before...

Published

Carrie Bone

November 26, 2019

14:45 GMT

London