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Friday, 8 March 2019

India's bankruptcy court clears ArcelorMittal's takeover of Essar Steel

ArcelorMittal confirmed the National Company Law Tribunal had approved the takeover of the 10 million tonne steel plant of Essar Steel by itself and Japan's Nippon Steel & Sumitomo Metal Corp, paving the way for the first major foreign participation in India's steel sector. ArcelorMittal has been trying to enter India's fast-growing steel market.

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