# ArcelorMittal's AM Mining India wins NCLT approval for Uttam Galva Steel acquisition

The National Company Law Tribunal approved AM Mining India's ₹4,050 crore bid to acquire stressed steelmaker Uttam Galva Steel. The acquisition is ArcelorMittal's third through India's insolvency process.

- Type: Acquisition
- Announced: 2022-10-14
- Where: Mumbai, India
- Value: $490.0M (40.5B INR)
- Status: completed
- Capacity: 1.2 million tonnes per annum
- Products: cold-rolled steel, galvanized steel, color-coated steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [ArcelorMittal](https://endata.com/companies/292.md) (acquirer)
- [ArcelorMittal](https://endata.com/companies/292.md) (investor)
- [ArcelorMittal](https://endata.com/companies/292.md) (partner)
- [Nippon Steel](https://endata.com/companies/7455.md) (investor)
- [AM Mining India](https://endata.com/companies/65805.md) (acquirer)
- [Uttam Galva Steel](https://endata.com/companies/65806.md) (target)
- [Uttam Galva Steels](https://endata.com/companies/66545.md) (target)

## Sources

- [thehindubusinessline.com](https://www.thehindubusinessline.com/companies/nclt-clears-arcelormittals-rs-4000-cr-bid-for-uttam-galva-steel/article66010496.ece), 2022-10-14: "The National Company Law Tribunal has approved the ₹4,050-crore bid by AM Mining India to acquire the stressed Uttam Galva Steel."
- [insolvencytracker.in](https://insolvencytracker.in/2022/10/15/arcelormittal-group-gets-nclt-nod-to-acquire-uttam-galva-steel/), 2022-10-15: "The Mumbai bench of the National Company Law Tribunal (NCLT) has given its approval to Rs 4,000-crore resolution plan submitted by AM Mining India Pvt Ltd, a subsidiary of ArcelorMittal group, for Uttam Galva Steel."
- [thehindubusinessline.com](https://www.thehindubusinessline.com/companies/am-mining-india-completes-acquisition-of-uttam-galva-steels/article66120988.ece), 2022-11-10: "AM Mining India, part of ArcelorMittal and Nippon Steel joint venture, has completed the acquisition of Uttam Galva Steels, a downstream steel manufacturer in Maharashtra on Thursday."
- [app.mergerlinks.com](https://app.mergerlinks.com/transactions/2022-11-10-uttam-galva-metallics-limited/dealmakers), 2022-11-10: "AM Mining India, a part of ArcelorMittal Nippon Steel, completed the acquisition of Uttam Galva Steels, a downstream steel manufacturer in Maharashtra."
- [business-standard.com](https://www.business-standard.com/article/companies/am-mining-india-completes-acquisition-of-debt-laden-uttam-galva-steels-122111001556_1.html), 2022-11-10: "AM Mining India Pvt Ltd, part of ArcelorMittal and Nippon Steel joint venture, on Thursday completed the acquisition of Uttam Galva Steels Ltd, a downstream steel manufacturer in Maharashtra."

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