ArcelorMittal: at least 3 offers to buy out Essar Steel
(CercleFinance.com) - There are at least 3 offers to buy the Indian steelmaker Essar Steel according to Bloomberg.
The Indian group JSW Steel has reportedly submitted an offer, as has Vedanta, Aurel BGC reports in its daily equity roundup.
ArcelorMittal's subsidiary, ArcelorMittal India Private Limited (AMIPL), also made an offer to buy the Indian group Essar Steel India Limited, although the financial terms of the proposal have not been specified. The group has teamed up with Nippon Steel & Sumitomo Metal this group's takeover.
In its bid, AMIPL presented a detailed industrial plan for Essar which is intended to improve its performance and profitability, while ensuring that it can participate in the expected growth in steel demand in India, the group said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The Indian group JSW Steel has reportedly submitted an offer, as has Vedanta, Aurel BGC reports in its daily equity roundup.
ArcelorMittal's subsidiary, ArcelorMittal India Private Limited (AMIPL), also made an offer to buy the Indian group Essar Steel India Limited, although the financial terms of the proposal have not been specified. The group has teamed up with Nippon Steel & Sumitomo Metal this group's takeover.
In its bid, AMIPL presented a detailed industrial plan for Essar which is intended to improve its performance and profitability, while ensuring that it can participate in the expected growth in steel demand in India, the group said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.