ArcelorMittal submits revised bid for Essar Steel

ArcelorMittal submitted a revised proposal to acquire Essar Steel India Ltd for about Rs 420 billion, upstaging a rival bid, plus Rs 70 billion to clear dues of Uttam Galva and KSS Petron. The bid represents unprecedented value to creditors.

“The revised offer, which also includes a commitment to pay the entire amount due to the financial creditors of Uttam Galva and KSS Petron, therefore represents 'unprecedented value' to all concerned creditors.”business-standard.com

• 2 sources
• business-standard.comRevised Essar bid offers unprecedented value to creditors: ArcelorMittal | Company News - Business StandardPress Trust of IndiaSep 11, 2018
• firstpost.comArcelorMittal signs pact to sell four European steel plants to Liberty House – FirstpostOct 12, 2018

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