ArcelorMittal bought 35% additional stake in Argentinian company Acindar, thereby increasing its stake to 99.5%.
World's largest steel producer ArcelorMittal today said it has acquired 70 per cent stake in Brazilian steel processor Manchester Tubos e Perfilados SA.
"The most prominent suitors continue to be Russian producers, although India's Essar Group also has been mentioned prominently, according to market sources," the Metal Bulletin (MB) reported, adding that Essar has been the most recent company to express interest and has begun negotiations with Luxembourg-based ArcelorMittal.
A two-member bench headed by Justice S J Mukhopadhaya said there is no stay on the Resolution Professional of Essar Steel to disburse the funds among financial and operational creditors of the company.
Mittal's wealth dropped with the Arcelor Mittal share price falling
Steel tycoon L N Mittal, who had acquired 69 per cent stake in state-owned Polish firm Polskie Huty Stali in 2004, has signed a pact with the Polish government to buy the remaining stake for $2.3 billions.
