ArcelorMittal Nippon Steel acquires Essar Group port and power assets for $2.4B

ArcelorMittal Nippon Steel India signed definitive agreements to acquire Essar Group's port and power assets in India for $2.4 billion. The deal includes port assets in Gujarat, Andhra Pradesh, and Odisha, and power plants at Hazira, and a 50-50 JV for an LNG terminal.

“In what is pegged as one of the largest mergers and acquisitions (M&A) deals, leading steelmaker, ArcelorMittal Nippon Steel (AM/ NS) India on Friday signed definitive agreements to acquire Essar Group’s ports and power assets in India for a whopping $2.4 billion.”timesofindia.indiatimes.com

• 3 sources
• timesofindia.indiatimes.comEssar Group sells port, power assets for $2.4 billion to ArcelorMittal Nippon Steel - Times of IndiaNiyati ParikhAug 26, 2022
• rediff.comEssar to sell port infra to ArcelorMittal for Rs 19,000 cr - Rediff.com BusinessSource: PTIAug 26, 2022
• timesofindia.indiatimes.comCCI clears acquisition of ports, power assets of Essar Group by ArcelorMittal Nippon Steel - The Times of IndiaPTISep 29, 2022

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