• Tag results for ArcelorMittal

Competition Commission approves ArcelorMittal's acquisition of Essar Steel

ArcelorMittal and Numetal are in the race to acquire Essar Steel, currently undergoing insolvency proceedings as it owes more than Rs 45,000 crore to over 30 banks.

published on : 20th September 2018

SC asks Numetal to establish subterfuge charge against ArcelorMittal in divesting shares

The observation by a bench of Justices R F Nariman and Indu Malhotra came when NuMetal accused steel and mining major ArcelorMittal of cheating Indian banks of Rs 7,000 crore.

published on : 19th September 2018

Essar Steel acquisition: ArcelorMittal writes letter targeting Vedanta, withdraws later

ArcelorMittal, which is competing against Russia's VTB Group-backed Numetal Ltd and Vedanta for the takeover of Essar Steel, on September 15 wrote a hard-hitting letter.

published on : 18th September 2018

Russia's Numetal raises loan defaults by firms of Lakshmi Mittal's brothers

Numetal and ArcelorMittal are locked in fierce takeover battle of Essar Steel and two are in the Supreme Court over bidding qualification.

published on : 18th September 2018

SC to hear tomorrow plea of ArcelorMittal against NCLAT order on Essar Steel auction

The apex court refused urgent hearing for ArcelorMittal's plea for payment of Rs 7,000 crore by today for its second bid to become eligible.

published on : 11th September 2018

ArcelorMittal sweetens offer for Essar Steel; submits revised proposal to creditors' committee

The revised offer also includes a commitment to pay Rs 7,000 crore dues to the financial creditors of Uttam Galva and KSS Petron to be eligible in the race to acquire Essar Steel.

published on : 11th September 2018

Second round bids by NuMetal, Vedanta for Essar Steel valid, says NCLAT

The NCLAT held that NuMetal was not related to promoters of Essar Steel and so was eligible for submitted a resolution plan for the company.

published on : 7th September 2018

Steel giant ArcelorMittal reaches deal with unions over Italy's Ilva: Sources

ArcelorMittal signed a preliminary deal last year to buy Ilva, which has the largest steel-producing capacity in Europe, but the accord was thrown into doubt by Italy's new government.

published on : 6th September 2018

ArcelorMittal seeks disqualification of NuMetal

According to the petitioner, when first bids for loan defaulter Essar Steel were called in February, Rewant owned 25 per cent in Mauritius-based investment vehicle NuMetal.

published on : 6th July 2018

ThyssenKrupp, Tata Steel Joint Venture to be Europe’s second largest steelmaker after ArcelorMittal

The deal also comes at a time when European steel industry is facing challenges of a trade war following the introduction of 25 per cent tariffs on steel imports by the US on June 1.

published on : 30th June 2018

ArcelorMittal Q1 net profit up 19 per cent at USD 1.2 billion

Sales increased 19.27 per cent to $19.18 billion during the quarter under review from $16.08 billion in the corresponding period last year.

published on : 12th May 2018

NCLAT agrees to hear NuMetal, ArcelorMittal petitions in Essar Steel case

ArcelorMittal wanted NuMetal bid be rejected because its backers include a company controlled by the son of a billionaire Essar Steel founder.

published on : 27th April 2018

NuMetal snaps up 70 per cent stake in OSPIL

Russia-based VTB Capital-backed NuMetal has acquired 70 per cent in debt-ridden Odisha Slurry Pipeline Infrastructure Ltd (OSPIL), which feeds raw material to Essar’s Paradip steel plant.

published on : 31st March 2018

Essar Steel: ArcelorMittal drags bankers' rejection to NCLT 

ArcelorMittal has challenged the committee of creditors' last week decision to reject its bid for Essar Steel on technical grounds at the Ahmedabad bench of the NCLT.

published on : 26th March 2018

Aditya Mittal new president of global steel giant ArcelorMittal

Global steel giant ArcelorMittal today said Aditya Mittal has been appointed as president of the company.

published on : 5th March 2018
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