ArcelorMittal India Private Limited submits offer for Essar Steel India Limited
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Source: GlobeNewswire
12 February 2018 ArcelorMittal announces that its subsidiary ArcelorMittal India Private Limited (AMIPL) has today submitted an offer for Essar Steel India Limited ('Essar'), the Indian steel company, in-line with the corporate insolvency resolution process for Essar. In its offer, AMIPL set out a detailed industrial plan for Essar aimed at improving its performance and profitability and ensuring it can participate in the anticipated growth of steel demand in India. It also highlights the extensive experience and track record of the group in the successful acquisition and integration of under-performing assets, which AMIPL believes would be of considerable value to Essar. Essar would also have access to the deep bench of technical expertise and knowledge from across the group which is unparalleled in the steel industry. Commenting, Mr. Lakshmi Mittal, Chairman and CEO, ArcelorMittal, said: "Essar provides a compelling opportunity for ArcelorMittal to enter the
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