Arcelor News Monitoring

Arcelor parks Rs 7,000 crore for Essar Steel bid eligibility

Arcelor parks Rs 7,000cr for Essar Steel bid eligibility

Bitter court wars bog down Arcelor, Tata as India law tested

By Swansy Afonso and Upmanyu Trivedi India’s new bankruptcy law is being bogged down by bitter court room disputes that include the likes of ArcelorMittal and the Tata Group -- jeopardizing the law’s promise of time-bound resolution in a country famous …

Essar Steel resolution case: Arcelor, Numetal may get 7 days to pay dues

The committee of creditors (CoC) in the Essar Steel resolution case met on Saturday and considered giving ArcelorMittal and Numetal seven days to clear outstanding dues to become eligible. The CoC would, however, have to vote on the resolution to complete …

Essar Steel sale: Lenders must negotiate with chosen bidder, says Arcelor

ArcelorMittal said negotiations should take place with the preferred bidder from the first offers, in response to Numetal’s letter to lenders indicating it was willing to match and better the global steel maker’s offer for Essar Steel. It is not clear yet …

Arcelor, Numetal get extra time to revise Essar bids

Lenders of Essar Steel decided on Friday to give first-round bidders ArcelorMittal and the Numetal consortium seven days to revise their bids and comply with eligibility criteria, while Vedanta made a pitch to the banks to consider its offer before …

Essar Steel lenders to hear out Arcelor, Numetal

MUMBAI: Vedanta and Numetal have queered the pitch for creditors by offering to match the best bids, even as lenders give a chance to the two original bidders which were initially rejected. The lenders have decided to abide by the National Company Law …

Arcelor bids higher than Numetal for Essar Steel; CoC to meet on Friday

ArcelorMittal’s bid for Essar Steel in the first round of bidding for the stressed asset is likely to be higher than that of Numetal. The financial bids submitted by the two companies on February 12 were opened on Tuesday by the committee of creditors ( …

Race for Essar steel: Numetal approaches NCLAT on Arcelor bid

The Ahmedabad bench of the NCLT had suggested the two bidders be allowed an opportunity to rectify their bids to make them eligible. The VTB Bank-led Numetal on Thursday moved the National Company Law Appellate Tribunal (NCLAT) against an order that gives …

Essar Steel sale: Lenders may give time to Arcelor, Numetal to rectify bids

The committee of creditors (CoC) for Essar Steel will meet on Tuesday to take a call on the bids after Thursday’s order by the Ahmedabad bench of the National Company Law Tribunal (NCLT). Sources close to the development said, ahead of the CoC meeting, …

Arcelor, Numetal get NCLT breather in Essar Steel bid

— By Agencies | Apr 20, 2018 12:18 am Ahmedabad : In a major victory for Numetal and ArcelorMittal, the Ahmedabad bench of the NCLT on Thursday asked the lenders and the resolution professional of the bankrupt Essar Steel to reconsider their first bids. …

Race for Essar Steel: NCLT directs lenders to review Arcelor, Numetal bids

In a major twist, the Ahmedabad Bench of the National Company Law Tribunal (NCLT) on Thursday asked the resolution professional (RP) and the committee of creditors (CoC) of Essar Steel to reconsider the first round of bids and review offers from …

Reconsider Arcelor, Numetal bids: NCLT to Essar Steel

The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on Thursday asked the Resolution Professional and the Committee of Creditors (CoC) to re-examine the bids for the Ruias-promoted Essar Steel India Ltd (ESIL) submitted in the first round by …

Arcelor Mittal - Look Global For Steel

With so much going on in this market right now, it can be hard to know where to look as an investor. This is particularly true for those of use with a value mindset and a long memory, as bargains seem to be everywhere in some of the traditional places ( …

Inconsistent use of IBC: JSW refutes Arcelor allegations

KOLKATA: JSW Steel has refuted ArcelorMittal’s allegations that the Insolvency and Bankruptcy Code (IBC) was inconsistently applied, allowing the former’s bid on Monnet Ispat while disqualifying the latter from the race to acquire another debt-laden …

Essar Steel bid: Arcelor alleges differential treatment in eligibility test

ArcelorMittal has alleged it received differential treatment in the eligibility test it failed in the first round of bidding for Essar Steel as compared to JSW Steel’s with respect to Monnet Ispat & Energy. The case, as put forward by the legal …

Numetal, Arcelor seek to cancel each other’s Essar Steel bid

Section 29 (A) of the Insolvency and Bankruptcy Code bars defaulting promoters from participating in the corporate insolvency process, and the IRP had last month disqualified bids by ArcelorMittal India and Numetal Mauritius for Essar Steel. Ahmedabad: …

Reliance Industries wins FT Arcelor Mittal Boldness award

Agencies, Mumbai Recognized for their innovation and bringing transformational change to India, Reliance Industries Limited (RIL), a leading provider of energy, petrochemicals, textiles, retail, telecommunications and digital services, was presented with …

Arcelor, Nippon Steel join forces to bid for insolvent Essar Steel

The world’s biggest steelmaker, ArcelorMittal, and Japan’s top mill will form a partnership to bid for Essar Steel India Ltd., the insolvent producer that could fetch at least billion. The world’s biggest steelmaker, ArcelorMittal, and Japan’s top mill …

March for Science Announces its Inaugural S|GNS Summit, an Advocacy Conference to Empower Leaders Across Communities

On July 6-8, science advocates from around the world will join for a weekend of conversations and skill building. CHICAGO, ILLINOIS, UNITED STATES, May 22, 2018 /⁨EINPresswire.com⁩/ -- NEW YORK, NY – The March for Science, a global organization …

G-PMC Makes Bold Move Submitting Offer to ISO Certify President Trump's Administration and White House

G-PMC is one of the few ISO certification registrars without any ties to infamous accrediting groups linked to foreign nations hostile to American interests WASHINGTON, DC, US, May 22, 2018 /⁨EINPresswire.com⁩/ -- It's no secret that in …

Europe and Eurasia: Deputy Assistant Secretary for the Bureau of Conflict and Stabilization Operations Pete Marocco ...

Deputy Assistant Secretary Pete Marocco will travel to Tirana, Albania and Stuttgart, Germany May 24-31. On May 26, Deputy Assistant Secretary Marocco will participate in the 15th Southeast European Meeting in Tirana, Albania and will meet with Western …

A peaceful, secure, prosperous Libya through credible elections

Statement by Ambassador Jonathan Allen, UK Deputy Permanent Representative to the UN, at the Security Council Briefing on Libya: Thank you very much, Madam President. Thank you to Ambassador Skoog for his briefing. And let me also very much welcome the …

How the UK is helping to tackle Ebola in the DRC

A vaccination campaign to prevent the spread of Ebola is soon to begin in the Democratic Republic of the Congo (DRC) thanks to UK aid and Gavi, the Vaccine Alliance. The vaccine was developed in trials funded by the Department of International Development …

Zimbabwe begins process to re-join Commonwealth; observers invited to July elections

Zimbabwe has applied to re-join the Commonwealth. The proposal came in a letter dated 15 May to Secretary-General Patricia Scotland from Zimbabwe’s President Emmerson Mnangagwa. The Secretary-General was delighted to receive the letter.  “I …

High Tech Inventors Alliance Applauds BIG Data for IP of 2018

Washington D.C., May 22, 2018 (GLOBE NEWSWIRE) -- The High Tech Inventors Alliance (HTIA) has issued the following statement in support of the BIG Data for IP of 2018 Act. Representatives Steve Chabot (R-OH) and Hank Johnson (D-GA) introduced the bill in …

U.S. Agency for International Development (USAID) Commits $1 Million in Assistance for DR Congo Ebola Response Plan

The U.S. Agency for International Development (USAID) announced today (May 18, 2018) that it has provided an initial $1 million to combat the Ebola outbreak in the Democratic Republic of Congo (DRC).    These funds, which reflect the U.S. Government's …

Minister Sisulu attends the G20 Foreign Ministers Meeting

Hon Lindiwe Sisulu, Minister of International Relations and Cooperation, will from 20-21 May 2018 participate at the G20 Foreign Ministers Meeting taking place in Argentina. The G20 consists of the leading developed and developing economies with an …

Joint Statement for The Fourth BRICS (Brazil, Russia, India, China and South Africa) Ministers of Environment Meeting ...

We, the Ministers of Environment and Heads of Delegation of the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People's Republic of China and the Republic of South Africa, held the fourth BRICS Environmental …

The European Union Gives another Boost to the Promotion of Culture and Creative Industries in Liberia

The 2018 EUROLIBERIAN Film Festival closes today but new horizons open up for the promotion of culture and creativity in Liberia as the European Union launches a new project for a social enterprise cinema arthouse in Monrovia. On 18th May 2018 during the …

Europe and Eurasia: Assistant Secretary Mitchell Travel to Wiesbaden, Budapest, and Bratislava

Assistant Secretary of State for European and Eurasian Affairs A. Wess Mitchell will travel to Europe May 22 to May 24. On May 22 he will be in Wiesbaden, Germany. There he will participate in a meeting of U.S. Chiefs of Missions serving in Europe hosted …

Colton Moore Set To Be Youngest Elected Official Ever in District 1

ATLANTA, May 21, 2018 (GLOBE NEWSWIRE) -- With a campaign budget of $3,500, Colton Moore of Dade County has his sights set on the District 1 Georgia State House election. At 24 years old, he will be the youngest elected official in District 1’s history. …

Europe and Eurasia: Remarks at the 2018 Plenary Session of the U.S.-Georgia Strategic Partnership

SECRETARY POMPEO: Well, good morning. Good morning, Prime Minister. Welcome and congratulations on your hundredth anniversary of your independence. That’s a major milestone along the way. The message, frankly, this morning is that America’s support for …

UNITED SIKHS ANNOUNCE OPEN ENROLLMENT FOR 2018 ADVOCACY & HUMANITARIAN AID ACADEMY

Washington D.C., May 21, 2018 (GLOBE NEWSWIRE) -- UNITED SIKHS today announced open enrollment for the 2018 Advocacy and Humanitarian Aid Academy (AHAA) Summit. This annual program hosts the next generation of human rights advocates for a week of engaging …

Djibouti: Any port in a storm?

As countries across the Horn of Africa embark on ambitious programmes to attract foreign investment, Djibouti seems a stable option in a volatile region. But are there risks? A new report by political and security risk consultancy Allan & Associates ( …

Maverick PAC to Celebrate 15th Anniversary & Host the 2018 Mavericks Conference in Austin, TX

Washington, D.C., May 21, 2018 (GLOBE NEWSWIRE) -- Maverick PAC (MavPAC) will hold its annual Mavericks Conference in Austin, Texas for three nights beginning May 31st, with special guests Senator Ted Cruz (TX), Texas Land Commissioner George P. Bush, …

Westwater Resources Comments on the U.S Department of Interior Critical Minerals List

CENTENNIAL, Colo., May 21, 2018 (GLOBE NEWSWIRE) -- Westwater Resources, Inc. (Nasdaq:WWR) (the “Company”), a U.S.-based energy materials company focused upon the exploration and development of new sources of graphite, lithium and uranium, commented today …

National Brain Tumor Society Brings Realities of Glioblastoma to Congress

Washington, D.C., May 18, 2018 (GLOBE NEWSWIRE) -- National Brain Tumor Society (NBTS), the largest nonprofit dedicated to the brain tumor community in the United States, held a congressional briefing in Washington, D.C. for members of Congress and their …

Europe and Eurasia: Remarks With Dutch Foreign Minister Stephanus Blok Before Their Meeting

SECRETARY POMPEO: Good afternoon. I just want to say welcome. We’re thrilled to have you here. It’s good to see you. I look forward to a productive afternoon talking to you. FOREIGN MINISTER BLOK: Thank you. SECRETARY POMPEO: Thank you. Good to see you. …