ArcelorMittal's $6 Billion Deal for Essar Steel Put On Hold by Court-Bloomberg

Date : 07/22/2019 @ 8:47AM
Source : Dow Jones News
Stock : ArcelorMittal (MT)
Quote : 14.838  0.068 (0.46%) @ 4:40PM
ArcelorMittal share price Chart

ArcelorMittal's $6 Billion Deal for Essar Steel Put On Hold by Court-Bloomberg

ArcelorMittal (EU:MT)
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--India's Supreme Court temporarily put ArcelorMittal's $6.1 billion purchase of Essar Steel India Ltd. on hold, Bloomberg reported.

--The Supreme Court on Monday admitted an appeal by Essar Steel's financial lenders against a bankruptcy court ruling that put secured creditors like banks at par with operational creditors, or suppliers to the plants, it said.

--The Supreme Court also admitted ArcelorMittal's appeal against the bankruptcy court ruling, the report said.

 

Full story: https://bloom.bg/2xZ7db2

 

Write to Singapore editors at singaporeeditors@dowjones.com

 

(END) Dow Jones Newswires

July 22, 2019 04:32 ET (08:32 GMT)

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