Essar Steel, which is controlled by the Ruia family, has been compensated with $45.3 million (Rs 200 crore) for withdrawing its bid for US steel maker Esmark.

<tr><td><p class='TableClas'></p><P class='TableClas'><DIV CLASS=rightDiv><script language="JavaScript">
		google_ad_client = 'businessstandard';
		//google_ad_client = 'ca-businessstandard_js';
		google_ad_width = 200;
		google_ad_height = 200;
		google_ad_format = "200x200_as";
		google_ad_type = "text";
		google_ad_channel = "";
		//google_color_border = "FFFFFF";
		google_color_border = "F7F7F7";
		//google_color_bg = "FFFFFF";
		google_color_bg = "ffffff";
		//google_color_link = "639ACE";
		google_color_link = "0253B7";
		google_color_text = "000000";
		google_color_url = "D63431";
		//google_skip = adsenseSkip;
		</script> 
		<script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
		</script> </DIV><p class='TableClas'>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. 
</p><p class='TableClas'>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. </P></p><p class='TableClas'></p></table>


Essar nets Rs 200 cr for Esmark bid pullout

More From This Section

Posco land acquisition resumes amid protests

Diageo to buy half of Mallya's South Africa beer biz

Average money spent for new players dips

'IndiGo did not comply with AAC guidelines'

Explore News