TIDMMT 
 
 
 
 
   ArcelorMittal submits revised proposal for the acquisition of Essar 
Steel 
 
   11 September 2018 - In response to media speculation, ArcelorMittal (the 
Company) confirms that yesterday, 10 September 2018, it submitted a 
revised proposal to Essar Steel India Limited's (ESIL) Committee of 
Creditors for the acquisition of ESIL. The Company can also confirm that 
media reports speculating on the financial value of the revised offer 
are broadly accurate. 
 
   The revised offer, which also includes a commitment to pay the entire 
amount due to the financial creditors of Uttam Galva and KSS Petron, 
therefore represents unprecedented value to all concerned creditors. 
Through the revised offer ArcelorMittal demonstrates its serious 
commitment to India, creditor banks and all ESIL's stakeholders. 
 
   The Company believes ESIL provides it with a compelling opportunity to 
enter the high-growth Indian steel market and, should it prove 
successful with the proposed acquisition, ESIL will add significant 
strategic value to the group's business. 
 
   ENDS 
 
   About ArcelorMittal 
 
   ArcelorMittal is the world's leading steel and mining company, with a 
presence in 60 countries and an industrial footprint in 18 countries. 
Guided by a philosophy to produce safe, sustainable steel, we are the 
leading supplier of quality steel in the major global steel markets 
including automotive, construction, household appliances and packaging, 
with world-class research and development and outstanding distribution 
networks. 
 
   Through our core values of sustainability, quality and leadership, we 
operate responsibly with respect to the health, safety and wellbeing of 
our employees, contractors and the communities in which we operate. 
 
   For us, steel is the fabric of life, as it is at the heart of the modern 
world from railways to cars and washing machines. We are actively 
researching and producing steel-based technologies and solutions that 
make many of the products and components people use in their everyday 
lives more energy efficient. 
 
   We are one of the world's five largest producers of iron ore and 
metallurgical coal. With a geographically diversified portfolio of iron 
ore and coal assets, we are strategically positioned to serve our 
network of steel plants and the external global market. While our steel 
operations are important customers, our supply to the external market is 
increasing as we grow. 
 
   In 2017, ArcelorMittal had revenues of $68.7 billion and crude steel 
production of 93.1 million metric tonnes, while own iron ore production 
reached 57.4 million metric tonnes. 
 
   ArcelorMittal is listed on the stock exchanges of New York (MT), 
Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock 
exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS). 
 
   For more information about ArcelorMittal please visit: 
http://corporate.arcelormittal.com/ 
 
 
 
 
 
Contact information ArcelorMittal 
 Investor Relations 
 
Europe                                                   +44 20 7543 1156 
Americas                                                  +1 312 899 3985 
Retail                                                   +44 20 7543 1156 
SRI                                                       +44 207543 1156 
Bonds/Credit                                              +33 171 921 026 
 
 
Contact information ArcelorMittal 
 Corporate Communications 
 
                                           mailto:press@arcelormittal.com 
  E-mail:                                         press@arcelormittal.com 
                                         -------------------------------- 
Phone:                                                      +442076297988 
 
 
ArcelorMittal Corporate Communications 
 
Paul Weigh                                               +44 20 3214 2419 
 
 
 
 
 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

September 11, 2018 09:47 ET (13:47 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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