Steel
NCLT directs Essar lenders to reconsider Arcelor, Numetal bids
21 Apr 2018
The NCLT order invalidates the second round of bidding for Essar Steel involving Vedanta and JSW Steel and opens the possibility of ArcelorMittal or Numetal winning the race for Essar Steel
Vedanta set to take control of Electrosteel with Rs5,000 crore offer
31 Mar 2018
While Vedanta has offered nearly Rs5,000 crore for Electrosteel, which owes lenders close to Rs11,300 crore, the creditors have to complete the insolvency resolution process by 17 April
JSW Steel to expand capacity to 1mn tonnes to gain from Trump's policies
27 Mar 2018
JSW Steel plans to invest up to $500 million to improve capacity utilisation at is plates and pipes mill in Texas, hoping to gain from the Trump administration’s protectionist policies
ArcelorMittal moves NCLT against bar on Essar Steel bid
27 Mar 2018
ArcelorMittal was formally declared ineligible to bid for Essar Steel due to the technicality of still being listed as a promoter of Uttam Galva Steel on the stock exchange, even though it had sold its shareholding before submitting the bid offer
ArcelorMittal bid queers the pitch for local bidders of Essar Steel
26 Mar 2018
Banks led by State Bank of India, had, last week, voted in favour of inviting bids from six companies which had submitted expressions of interest after the resolution professional declared bids from ArcelorMittal and Numetal as ineligible
Tata Steel wins bid to acquire Bhushan Steel
23 Mar 2018
Essar Steel's lenders vote for fresh bids as Numetal, ArcelorMittal's bids declared ineligible
21 Mar 2018
Trump authorises tariffs on steel, aluminium imports
09 Mar 2018
The United States is the largest steel importer in the world and the order could hit South Korea, China, Japan, Germany, Turkey and Brazil the hardest
Tata Steel set to acquire Bhushan Steel
08 Mar 2018
The acquisition of the 5.6-million tonnes Bhushan Steel will add significantly to Tata Steel’s 13-million tonnes domestic capacity and make it the largest steel maker in India
Icahn’s dumping of steel stock just before Trump tariffs raises eyebrows
05 Mar 2018
Billionaire investor Carl Icahn, till recently an advisor to President Donald Trump, sold nearly 1 million shares in a company tied to the steel industry just ahead of Trump's decision to impose costly tariffs on steel and aluminium imports
Will dump Ruia if it interferes with Essar Steel bid: Numetal
05 Mar 2018
The consortium led by VTB Capital said it is prepared to drop Rewant Ruia as a minority shareholder if the government decides it is against the rules to allow promoters a backdoor entry into sick units. Senior VTB official Makram Addoud also said ArcelorMittal’s bid is illegal and it is acting as a ‘spoiler’
ArcelorMittal forms JV with Nippon Steel to acquire Essar Steel
03 Mar 2018
ArcelorMittal has signed a joint venture agreement with Nippon Steel and Sumitomo Metal Corporation (NSSMC) to bid for Essar Steel India Limited, which is being auctioned by its creditors
ArcelorMittal keen to bag Essar Steel, says it will be perfect fit
28 Feb 2018
"The growth in the Indian market in the next 10 years would probably not be seen in any other market," ArcelorMittal executive vice president Brian Aranha said while explaining the importance of Essar Steel to his firm
ArcelorMittal, Ruias and Tatas to vie for debt-laden Essar Steel
12 Feb 2018
The liquidation value of Essar Steel, which operates a 10 million tonne capacity steel plant in Hazira, Gujarat, has been fixed at Rs20,000 crore, according to sources
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