# ArcelorMittal wins bid to acquire Essar Steel for Rs42,000 crore

ArcelorMittal won a bid to acquire debt-laden Essar Steel for over Rs42,000 crore, with an additional Rs8,000 crore capital injection. The Committee of Creditors issued a Letter of Intent on October 19, 2018, declaring ArcelorMittal the successful applicant.

- Type: Acquisition
- Announced: 2018-10-26
- Where: India
- Value: $5.70B (420.0B INR)
- Status: announced
- Products: steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [ArcelorMittal](https://endata.com/companies/292.md) (acquirer)
- [Essar Steel](https://endata.com/companies/35149.md) (target)

## Sources

- [thequint.com](https://www.thequint.com/pti/arcelormittal-wins-bids-to-take-over-essar-steel-for-rs-42-000-crore), 2018-10-26: "ArcelorMittal Friday said it has won a bid to acquire debt-laden Essar Steel for over Rs 42,000 crore."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.