ArcelorMittal Gets Approval for $5.8 Billion Essar Deal in India

Date : 11/15/2019 @ 8:57AM
Source : Dow Jones News
Stock : ArcelorMittal (MT)
Quote : 8.337  -0.358 (-4.12%) @ 4:40PM
ArcelorMittal share price Chart

ArcelorMittal Gets Approval for $5.8 Billion Essar Deal in India

ArcelorMittal (EU:MT)
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   By Cristina Roca 
 

ArcelorMittal (MT.AE) has received approval from India's Supreme Court to complete its purchase of Essar Steel India Ltd., a company spokeswoman told Dow Jones Newswires on Friday.

ArcelorMittal confirmed media reports that India's top court has approved its $5.8 billion deal to acquire the bankrupt steel mill, clearing the way for the European steel giant to enter the world's second-biggest market.

At GMT 0823, shares in the Amsterdam-listed steelmaker traded 1.6% higher following the news.

 

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

 

(END) Dow Jones Newswires

November 15, 2019 03:42 ET (08:42 GMT)

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