ArcelorMittal, JSW Steel among six firms keen on buying Uttam Galva Steel

Uttam Galva's total admitted claims are Rs 9,070.66 crore, with ArcelorMittal having an 87 per cent voting share among financial creditors

Ishita Ayan Dutt Business Standard Kolkata
Uttam Galva defaults on Rs 664-cr loan; ArcelorMittal, SBI among creditors

ArcelorMittal became a significant financial creditor of Uttam Galva by taking on bulk of Uttam Galva’s debt in 2018 to become eligible for the Essar Steel bid under the insolvency law.

Four steel companies — ArcelorMittal, JSW Steel, Jindal Steel & Power (JSPL), and Vedanta-owned ESL Steel — have submitted expressions of interest (EoIs) for debt-laden Uttam Galva Steels.

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First Published: Jan 03 2021 | 3:32 PM IST

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