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Bhushan Steel: Arcelormittal Joins Race To Acquire Bhushan Steel Under Bankruptcy Code - The Economic Times
Posted on: Oct. 20, 2017, 5:31 p.m.
KOLKATA: ArcelorMittal, the world's largest steel company, has joined the bidding race for stressed steel assets in the country by expressing interest to acquire Bhushan Steel. Top banking sources told ET that LN Mittal-led ArcelorMittal has submitted an expression of interest (EoI) for Bhushan Steel, which has been referred to National Company Law Tribunal (NCLT) under Insolvency and Bankruptcy Code. This provides ArcelorMittal, which failed to make much headway in setting up greenfield steel projects in India, an opening to ... Full investment news article