Arcelormittal Submits Revised Proposal For The Acquisition Of Essar Steel
11 Settembre 2018 - 04:02PM
Dow Jones News
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)
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