ArcelorMittal: no longer interested in Bhushan P&S
(CercleFinance.com) - ArcelorMittal has withdrawn its offer on the assets of Bhushan Power & Steel, the Indian group that is in difficulty according to the Indian daily The Economic Times, which quotes sources close to the case.
The steel giant has informed this company's creditor committee about this decision, taken after the due diligence, by a letter sent to its financial adviser, Goldman Sachs.
"However, Lakshmi Mittal's group would still be interested in Bhushan Steel (another structure, whose shareholders are from the same family) and by Essar Steel, whose respective capacities are 5.6 million and 10 million tonnes, Aurel BGC said.
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The steel giant has informed this company's creditor committee about this decision, taken after the due diligence, by a letter sent to its financial adviser, Goldman Sachs.
"However, Lakshmi Mittal's group would still be interested in Bhushan Steel (another structure, whose shareholders are from the same family) and by Essar Steel, whose respective capacities are 5.6 million and 10 million tonnes, Aurel BGC said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.