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AM Mining India acquires Indian Steel Corporation via NCLT-approved plan · Endata

◂ Announcements

Apr 14, 2023ACQUISITIONSurat, India, India

AM Mining India acquires Indian Steel Corporation via NCLT-approved plan

The Mumbai bench of NCLT approved the Rs 897-crore resolution plan of AM Mining India Private Limited, a joint venture between Arcelor Mittal and Nippon Steel Corporation, to acquire Indian Steel Corporation, a Surat-based steel manufacturer.

Value

$109.0M (8.97B INR)

Status

Completed

Capacity

600,000 tonnes per annum

Productssteel

CompaniesArcelorMittal investor Nippon Steel investor AM Mining India acquirer Indian Steel Corporation target

Sectors#Steel and Metal Products

“NCLT approves Arcelor Mittal group’s Rs 890-cr resolution plan for Indian Steel Corporation”insolvencytracker.in

2 sources
insolvencytracker.inIndian Steel Corporation now an Arcelor Mittal group firmInsolvencyTApr 14, 2023
thehindubusinessline.comAM Mining to acquire Indian Steel Corpn for ₹897 crore - The HinduBusinessLineBL Mumbai BureauApr 17, 2023

Summarized from public sources; check the original articles before acting on it.

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