Essar nets Rs 200 cr for Esmark bid pullout

Russian metal giant Severstal, the successful suitor, paid the Indian company $25 million as a termination fee and a loan cancellation charge of $20.3 million.

The Essar sources said this is the amount received by the company as a break-up fee and exercise of warrants attached to the loan provided to Esmark, which is now being bought by Severstal.