ArcelorMittal's $6 Billion Deal for Essar Steel Put On Hold by Court-Bloomberg
July 22 2019 - 4:47AM
Dow Jones News
--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
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(END) Dow Jones Newswires
July 22, 2019 04:32 ET (08:32 GMT)
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