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Essar group’s EPC Constructions’ lenders have called for fresh bids after rejecting the offer from ArcelorMittal as they found it too low, Mint reported, citing sources. ArcelorMittal was looking to buy the company at a 93 percent discount, the sources told the paper, adding that fresh bids are expected to be submitted by Tuesday.
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Arcelormittal news – Livemint – SBI puts loan exposure to Essar Steel on the block. State Bank of India (SBI) has set the aggregate reserve price for the full-cash sale of Essar Steel loans at 9,588 crore. Wed, Jan 09 2019. 06 00 PM IST. Posco, Hyundai Steel are in India’s sight for tie-ups.
What is happening in the Essar Steel bid?- Business News – The firm also questioned VTB’s authority in deciding on the veracity of a rival bid.. shed their stake at a discount to become eligible for the Essar bid. There were earlier reports that both.
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MT Short Interest / ArcelorMittal – fintel.io – Lenders reject Arcelor’s bid to buy Essar firm at 93% discount. 2018-12-31 livemint.com Lenders to EPC Constructions India Ltd, an Essar group firm, have called for fresh bids after rejecting an offer from ArcelorMittal SA because they found it too low, said a banker aware of the development. AMSYF MTCN 532179 MT 500116 CRPKY IDBI 532505.
ArcelorMittal seeks to buy EPC Constructions at 93% discount – ArcelorMittal seeks to buy EPC Constructions at 93% discount. with a bid of 500 crore, against outstanding loans of 7,268 crore. mint-india-wire ArcelorMittal EPC ConstructionsArcelor EPC bidessar steelarcelormittal essar steel bidEssar. This is the second Essar Group company, after Essar Steel, that.
ArcelorMittal moves NCLT, challenges lenders' decision to. – Mumbai: ArcelorMittal has challenged the committee of creditors’ last week decision to reject its bid for Essar Steel on technical grounds at the Ahmedabad bench of the National Company Law Tribunal (NCLT), the company said in a statement on Monday. The bankers had met on 23 March in Mumbai and had rejected ArcelorMittal’s bid along with that of Numetal – the only two bidders for the crippled.
After NCLT order, Essar Steel lenders to decide on status of. – After NCLT order, Essar Steel lenders to decide on status of Numetal, Ruia contention Numetal sources said the court order implies that the lenders’ committee will have to consider the original bid by the consortium, in which Aurora holds 25% stake and is led by Russia’s VTB Bank.