India Court Allows ArcelorMittal to Complete Essar Deal -Bloomberg

Date : 11/15/2019 @ 7:45AM
Source : Dow Jones News
Stock : ArcelorMittal (MT)
Quote : 16.1  0.546 (3.51%) @ 4:39PM

India Court Allows ArcelorMittal to Complete Essar Deal -Bloomberg

Arcelor Mittal (NYSE:MT)
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--ArcelorMittal (MT) has won approval from India's top court to complete its $5.8 billion purchase of Essar Steel India Ltd., putting tycoon Lakshmi Mittal one step closer to entering the world's second-biggest market, Bloomberg reports.

--The ruling, which sets a precedent for other insolvencies, grants a panel of the bankrupt company's lenders the discretion in the distribution of funds, according to the report.

 

Full story: https://bloom.bg/34VYJjs

 

Write to Singapore editors at singaporeeditors@dowjones.com

 

(END) Dow Jones Newswires

November 15, 2019 02:30 ET (07:30 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


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