NSSMC and ArcelorMittal joining hands to buy Essar

Source: Mysteel Mar 05, 2018 11:54

Nippon Steel & Sumitomo Metal Corp (NSSMC), Japan's largest steelmaker, has agreed with ArcelorMittal to form a joint venture as the entity to acquire Essar Steel India Ltd, according to a NSSMC announcement on March 2.

Nippon Steel & Sumitomo Metal Corp (NSSMC), Japan’s largest steelmaker, has agreed with ArcelorMittal to form a joint venture as the entity to acquire Essar Steel India Ltd, according to a NSSMC announcement on March 2. Essar Steel is currently undergoing resolution proceedings under the Indian bankruptcy code and