German steel giant ThyssenKrupp said on Tuesday that it has submitted a comprehensive package of proposed solutions to the European Commission to obtain clearance for the merger of the two steel majors ThyssenKrupp...
Steel
ThyssenKrupp, Tata Steel offer concessions to allay EU concerns
ThyssenKrupp and Tata Steel have offered concessions to address EU antitrust concerns about their planned steel joint venture, the European Commission said on Tuesday. The EU competition regulator, which did not provide...
Salzgitter CEO eyes Thyssenkrupp-Tata Steel JV remedies
Salzgitter’s chief executive will look at any assets that ThyssenKrupp and India’s Tata Steel could divest as part of anti-trust remedies being offered to help their planned joint venture deal, he said on...
20 days more for resolution of Uttam Galva
The bankruptcy court on Monday allowed an extension of 20 days for the resolution of the twin stressed assets of Uttam Value Steels and Uttam Galva Metallics. The 270-day resolution deadline for the companies is to...
Essar Steel CoC meets over distribution of Rs 42,000 cr, NCLAT to wait for the outcome
The lenders of Essar Steel Wednesday informed the National Company Law Appellate Tribunal (NCLAT) that meeting of the Committee of Creditors of the debt-ridden firm is going on over distribution of Rs 42,000 crore...
Uttam Value Steels & Galva Metallics get new bids from CarVal consortium
The twin distressed assets of Uttam Value Steels and Uttam Galva Metallics have received a fresh bid from a consortium led by CarVal Investors, even as SSG Capital Management sweetened its offer, a person close to the...
Tata Steel to offer partial EU packaging sale for Thyssenkrupp deal approval: Sources
Tata SteelNSE 1.37 % is likely to offer to sell parts of its European packaging activities to secure regulatory approval for a planned joint venture with ThyssenKrupp, three people familiar with the matter told Reuters...
Thyssenkrupp, Tata Steel get EU extension of JV remedy deadline
Thyssenkrupp and Tata Steel have agreed with the European Commission to extend a deadline to submit remedies in exchange for regulatory approval for a planned European steel joint venture, ThyssenKrupp said. The...
NCLAT directs Essar Steel to call CoC meeting to reconsider distribution of funds
The NCLAT Wednesday asked the resolution professional of Essar Steel NSE 0.00 % to call a fresh meeting of CoC to discuss distribution of Rs 42,000 crore coming from ArcelorMittal’s resolution plan. A two-member...
NCLAT allows implementation of ArcelorMittal’s resolution plan for Essar Steel
In a big win for ArcelorMittal, National Company Law Appellate Tribunal (NCLAT) today gave conditional approval to ArcelorMittal’s Rs 42,000 crore resolution plan for Essar SteelNSE 0.00 % sale, subject to final...
Deadline for ACCIL’s bid likely to see extension
JSW Steel Ltd has emerged as the sole bidder for Asian Colour Coated Ispat Ltd (ACCIL), forcing the lenders to consider more steps to garner a robust response for selling the assets of the bankrupt downstream steel...
Essar Steel lenders mull options after NCLAT advice
Creditors to Essar SteelNSE 0.00 % are weighing three options, one of which might be put before an appellate bankruptcy court on Monday, as they seek to draw to a close the insolvency proceedings that have dragged on...
