ArcelorMittal takes required step to ensure its offer for Essar Steel is eligible
(WorldNews Netherlands)

17 October 2018 - ArcelorMittal (`the Company`) announces that, in-line with the Indian Supreme Court ruling dated 4 October 2018, it has approved a payment of 7,469 crore rupees (c. $1 billion) to the financial creditors of Uttam Galva and KSS Petron to clear overdue debts in order that the offer it submitted for Essar Steel India Limited (`ESIL`) on 2 April 2018 is eligible and can be considered by ESIL`s Committee of Creditors (`CoC`). ArcelorMittal`s Board of Directors believes that...