ArcelorMittal makes the cut, emerges as sole bidder for Uttam Galva Steels

Six other firms, including four steelmakers, had submitted an expression of interest (EOI) for the debt-laden firm

ArcelorMittal held a 29.05 per cent stake in Uttam Galva Steels

ArcelorMittal had entered into a co-promotion agreement with the Miglani family and bought a 32 per cent stake in Uttam Galva Steels in 2009 when its greenfield projects were not going anywhere.

ArcelorMittal is the sole bidder for debt-laden Uttam Galva Steels, where it was once a co-promoter.

Six other firms, including JSW Steel, Jindal Steel & Power (JSPL) and Vedanta-owned ESL

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First Published: Mar 22 2021 | 7:42 PM IST

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