ArcelorMittal wins bid to buy Essar Steel for â¹42,000 crore
Essar Steel's committee of creditors has chosen ArcelorMittal and Japan's Nippon Steel & Sumitomo Metal as the winning bidders for the company. The firms would pay â¹42,000 crore to the lenders and inject â¹8,000 crore in the company. Essar Steel's promoters, the Ruia family, on Thursday offered to pay â¹54,389 crore to settle all claims and withdraw company from insolvency.