Essar Steel sale: ArcelorMittal to pay Uttam Galva dues
The world’s largest steelmaker ArcelorMittal on Thursday asserted that its bid for debt-laden Essar Steel is “eligible” and indicated that any pay off towards outstanding dues of Uttam Galva, a firm in which it was a minority shareholder till sometime back, would be a “goodwill gesture”.
ArcelorMittal had written off investment of $150 million in 2015. The company has further interest in the investment. Image source: Reuters