ArcelorMittal Nippon Steel India Rs502.31 billion acquisition of Essar

Value:

Re 502.31 billion

Dollar value:

$ 7.21 billion

Status:

Completed

Date:

2/1/2020

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

India

Public acquisition

Restructuring
M&A

Industrials and manufacturing

Luthra and Luthra Law Offices India

Party: ArcelorMittal (Acquirer, Joint venture partner)

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

Lawyer: Rajiv Luthra

S&R Associates

Party: ArcelorMittal (Acquirer, Joint venture partner)

Lawyers: Prachi Goel, Rajat Sethi, Sandip Bhagat

Shardul Amarchand Mangaldas & Co

Party: Committee of creditors (Creditor)

Lawyers: Deepto Roy, Shardul Shroff, Soummo Biswas, Veena Sivaramakrishnan, Yogesh Chande

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