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India's JSW Steel, Tata Steel among suitors for Bhushan Steel - sources [Reuters]

ARCELORMITTAL (MT)  More Company Research Source: Reuters
Last arcelormittal earnings: 1/31 01:01 am Check Earnings Report
PDF India's JSW Steel, Tata Steel among suitors for Bhushan Steel - sources | Reuters Reuters Staff 3 Min Read * JSW Steel bids jointly with India Resurgence Fund - sources * Group comprising some Bhushan Steel employees also bids * Bhushan Steel faces highest claims among 12 big bankruptcy cases By Devidutta Tripathy and Promit Mukherjee MUMBAI, Feb 5 (Reuters) - Indian steelmakers JSW Steel and Tata Steel have bid for Bhushan Steel & Power which is being pursued by creditors in bankruptcy court, three people familiar with the bidding process said on Monday. At 559.89 billion rupees ($8.75 billion), Bhushan Steel faces the highest claims among a dozen companies pushed to bankruptcy court last year amid a government drive to clear a mountain of bad loans choking credit at Indian banks. India’s largest steelmaker JSW Steel has jointly bid with India Resurgence Fund, a partnership between Piramal Enterprises and Bain Capital, the sources said. In addition to this joint bid and Tata Steel’s [Read more]

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