ArcelorMittal Nippon Steel India Rs502.31 billion acquisition of Essar Steel India

2/1/2020
Public acquisition

Re 502.31 billion

$ 7.21 billion

Completed

2/1/2020


Overview:

  • Multinational steel manufacturer ArcelorMittal and the world's third-largest steel producer Nippon Steel have jointly acquired Essar Steel India for Rs502.31 billion under India's bankruptcy law.
  • ArcelorMittal Nippon Steel India, a joint venture between ArcelorMittal and Nippon Steel, will own and operate Essar Steel.

Shah Shameer Ahmed - Researcher

Jurisdiction:

India

Deal type:

Public acquisition

Practice areas:

Restructuring
M&A

Industry sector:

Industrials and manufacturing


Firms:

Party: ArcelorMittal (Acquirer, Joint venture partner)

Party: Nippon Steel Corporation (Acquirer, Joint venture partner)


Party: ArcelorMittal (Acquirer, Joint venture partner)