ArcelorMittal to clear $1 billion dues to bid for Essar Steel
ArcelorMittal will pay 7,469 crore to the financial creditors of Uttam Galva and KSS Petron to become eligible to bid for Essar Steel
Mumbai: ArcelorMittal will pay ₹ 7,469 crore to the financial creditors of Uttam Galva Steels Ltd and KSS Petron Pvt. Ltd to become eligible to bid for bankrupt Essar Steel Ltd. The announcement on Wednesday by the Luxembourg-based steelmaker comes days before the Supreme Court-set deadline, which expires this weekend, to comply with its eligibility requirement.