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ArcelorMittal Confirms Revised Proposal For Essar Steel - Quick Facts

ArcelorMittal (MT) confirmed that on 10 September 2018, the company submitted a revised proposal to Essar Steel India Limited's Committee of Creditors for the acquisition of Essar Steel India. The company also confirmed that media reports speculating on the financial value of the revised offer are broadly accurate.

The company noted that its revised offer, which also includes a commitment to pay the entire amount due to the financial creditors of Uttam Galva and KSS Petron, represents unprecedented value to all concerned creditors.

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