Mangy_Scoundrel schreef op 17 oktober 2018 15:10:
ARCELORMITTAL: APPROVES PAYMENT FOR ESILArcelorMittal announces that, in line with the decision of the Indian Supreme Court of 4 October, it has approved a payment of approximately 1 billion dollars to Galva and KSS Petron's financial creditors to ensure its offer for Essar Steel India Limited (ESIL) is eligible.
The steelmaker explains that this potential acquisition 'represents a unique and compelling opportunity for the Company to establish a significant footprint, with substantial expansion potential, in the high-growth Indian steel market.'
'It (ArcelorMittal's Board of Directors) concluded that, given the significant benefits that ESIL would bring to ArcelorMittal, making this payment was an appropriate course of action under the circumstances,' the group continues.