ArcelorMittal Gets Approval for $5.8 Billion Essar Deal in India
November 15 2019 - 03:57AM
Dow Jones News
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)
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