Announced
Financials
Tags
Oil Equipment and Services
Pending
logistics assets
India
Private
Acquisition
Majority
Friendly
related energy infrastructure assets
Ports
Domestic
Single Bidder
Synopsis
ArcelorMittal Nippon Steel India, a joint venture between steelmakers ArcelorMittal and Nippon Steel, agreed to the port, power and other logistics and infrastructure assets of Essar Group, a producer of steel, for $2.4bn. The assets are either captive, including port assets in Gujarat, Andhra Pradesh and Odisha, or allied to AM/NS India’s steelmaking and will strengthen the strategic integration of the company’s manufacturing and logistics chain.
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