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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 email@example.com; @_cristinaroca
(END) Dow Jones Newswires
November 15, 2019 03:42 ET (08:42 GMT)
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