News Formal

Lakshmi Mittal’s entry into Indian steel market gets a little easier

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

Italia Notizia Notizia

Court rejects plea against ArcelorMittal’s bid for Essar Steel

New Delhi — An Indian court rejected on Thursday a petition challenging ArcelorMittal’s proposed takeover of debt-ridden Essar Steel, removing a hurdle in billionaire Lakshmi Mittal’s entry into the country’s fast-growing steel market.

Kapur’s law firm, Phoenix Legal, is representing some of the lenders to Essar Steel, one of 12 large steel and other infrastructure companies that defaulted and were referred to India’s bankruptcy court in 2017. The Essar Steel case has dragged on for about 700 days, with global and local steel firms locking horns to grab Essar’s assets. In April the Supreme Court asked ArcelorMittal to halt payments to Essar Steel’s lenders until various appeals were disposed of in the courts.

 

Grazie per il tuo commento. Il tuo commento verrà pubblicato dopo essere stato esaminato.
Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più:

 /  🏆 12. in İT

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

Business Maverick: Trump Picks Two Fed Nominees Likely to Support Easier PolicyAfter a yearlong assault on the Federal Reserve and its chairman, President Donald Trump has tapped two wildly different economists to the central bank’s board who seemingly have one important thing in common. They’re both likely to support the president’s call for lower interest rates.
Fonte: dailymaverick - 🏆 3. / 84 Leggi di più »