India-origin billionaire Lakshmi Mittal-led ArcelorMittal on Monday made an offer to buy an additional 29.4 per cent stake in domestic steel firm Uttam Galva Steel at Rs 120 a share. In a public......
Pending regulatory clearances may delay ArcelorMittal's acquisition of additional stakes in Uttam Galva through an open offer, although the steel behemoth aims to complete the deal by mid-December.......
The government has approved NRI billionaire Lakshmi Mittal-led ArcelorMittal's over Rs 500 crore (Rs 5 billion) foreign direct investment for acquisition of 35 per cent stake in steel products......
In 2009, ArcelorMittal had picked up a stake in Uttam Galva Steels. But the new Section 29A of the IBC prohibits promoters of companies with NPAs of more than a year from bidding for these......
Sources close to the development said a significant amount of around Rs 7,000 crore had been put into the SBI account with a proposal on escrow of the deposited funds. ArcelorMittal has......