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Lenders reject Arcelor’s bid to buy Essar firm at 93% discount. wanted to buy the company at a 93% discount, said the banker, requesting anonymity.. The company had proposed an upfront.
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Lenders to EPC Constructions India Ltd, an Essar group firm, have called for fresh bids after rejecting an offer from ArcelorMittal SA because they found it too low, said a Home Companies Lenders reject Arcelor’s bid to buy Essar firm at 93% discount | News From Other Media | businessnorth.com
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Close to 92 per cent of creditors of Essar Steel had voted in favour of handing over the company to Arcelor Mittal. Can’t Steel The Deal: Lenders Reject Arcelor’s Bid To Buy Essar Firm At 93.
Essar Steel lenders urge NCLAT to expedite resolution process.. failing which the stressed firm goes for liquidation.. ArcelorMittal also approached the tribunal after the rejection of its bid.
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Indian rupee, Arcelor shares advance after deal approval. essar lenders must . An Indian court allowed ArcelorMittal's $6 billion purchase of a bankrupt steel company, paving the way. The National Company Law Appellate Tribunal rejected petitions challenging.
Banks are likely to reject bankruptcy-facing Essar Steel’s demand for Rs 1,000 crore of working capital loans as the lenders are easing the other monetary restrictions they imposed on the company to safeguard their interests, said two people familiar with the developments. Banks have decided to do.
Lenders reject Arcelor [s bid to buy Essar firm at 93% discount ArcelorMittal had placed a bid of 500 crore, against EPC Constructions India Ltd, an Essar group firm’s outstanding loans of 7,268 crore. The steel giant had also promised to bring some equity into EPC Constructions if it was chosen, but the lenders were not happy with