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News digest: Karnataka results, PNB posts loss, Essar Steel bid, and more

It was clear from initial reactions in Bengaluru and Delhi that the BJP was not interested in tying up with the JD(S) to form a government at any cost.....»»

Category: topSource: business-standardMay 15th, 2018

Working "very closely" with L N Mittal on Arcelor"s future plan: Son Aditya

ArcelorMittal is in the race to acquire debt-laden Essar Steel which is undergoing insolvency proceedings.....»»

Category: topSource: business-standardMay 13th, 2018

Will be surprised if ArcelorMittal is out of Essar Steel race: LN Mittal

The Committee of Creditors on May 2 had met representatives of ArcelorMittal and Numetal regarding their eligibility for Essar Steel and a decision is awaited.....»»

Category: topSource: business-standardMay 7th, 2018

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

The committee of creditors (CoC) in the Essar Steel resolution case considered giving ArcelorMittal and Numetal seven days to clear outstanding dues to become eligible......»»

Category: topSource: business-standardMay 6th, 2018

Essar lenders" meet remains inconclusive, CoC to meet on Saturday

In February, just before the first round of bidding for the steel company was opened, ArcelorMittal sold its stake in both Uttam Galva Steels and KSS to be eligible.....»»

Category: topSource: business-standardMay 2nd, 2018

Game of two: Tatas, JSW likely to corner 33% of Indian steel market

Arcelor Mittal, one of the world's largest steel players, has nothing in India. It has sold its stake in Uttam Galva.....»»

Category: topSource: business-standardMay 1st, 2018

Lenders likely to reject ArcelorMittal"s conditional offer for Essar Steel

ArcelorMittal is ready to pay Uttam Galva's debt. The company held a 29% stake in the steel company.....»»

Category: topSource: business-standardMay 1st, 2018

Essar Steel lenders to give time to bidders to cure ineligibility

ArcelorMittal may have to clear outstanding dues totalling Rs 70 billion, if it wishes lay its claim as an eligible bidder.....»»

Category: topSource: business-standardApr 27th, 2018

Essar Steel: Numetal moves NCLAT ahead of bankers" meet on Friday

According to media reports, ArcelorMittal had quoted higher than Numetal, which still is below the fair value as it quotes only 40% of Rs 450 bn due to them from Essar Steel.....»»

Category: topSource: business-standardApr 26th, 2018

Battle for Essar Steel: Numetal may move tribunal ahead of lenders" meet

Legal sources close to Numetal said if the bids were rejected on commercial terms then the 30-day cure period could be circumvented.....»»

Category: topSource: business-standardApr 25th, 2018

Battle for Essar Steel: Numetal may move NCLAT ahead of lenders" meet

Legal sources close to Numetal said if the bids were rejected on commercial terms then the 30-day cure period could be circumvented.....»»

Category: topSource: business-standardApr 25th, 2018

Amtek Auto sells its SMI JV stake to Nippon Steel, Sumitomo Metal Corp

Amtek Auto is one of the 12 large insolvency cases which are undergoing insolvency resolution process with NCLT.....»»

Category: topSource: business-standardApr 18th, 2018

Real Madrid training photos show how impressive Cristiano Ronaldo"s leg muscles are — here"s the workout routine that keeps him fit

Reuters Real Madrid opened its training ground doors for the media ahead of the Champions League final against Liverpool on Saturday. During a practice session overseen by Real boss Zinedine Zidane it was clear that one thing stood.....»»

Category: topSource: businessinsiderMay 24th, 2018

Battle for Essar Steel: Journey of Rewant Ruia from 100% to 0% in Numetal

Numetal was rejected in the first-round bidding as it was not compliant with section 29A of the Insolvency and Bankruptcy Code.....»»

Category: topSource: business-standardMay 24th, 2018

Tata Steel"s Bhushan buy to raise net leverage over next 2-3 years: Fitch

Tata Steel's acquisition of a controlling stake in debt-laden Bhushan Steel is likely to raise the former's leverage over the next two to three years, Fitch Ratings said today. The move would also offset benefits to Tata Steel's cre.....»»

Category: dealsSource: nytMay 23rd, 2018

The Chain: Felda IFFCO Sells its 50 Percent Stake in PT Synergy Oil Nusantara; Felda Global Ventures Improves its Sustainability Policy

On May 4, 2018, Felda Global Ventures stated publicly that Felda IFFCO had, as of March 12, 2018, sold its 50 percent equity investment in PT Synergy Oil Nusantara (PT SON). Felda IFFCO is the joint.....»»

Category: blogSource: valuewalkMay 22nd, 2018

European Bank ETF Could Face Trouble Ahead

The iShares MSCI Europe Financials ETF (NA.....»»

Category: blogSource: benzingaMay 22nd, 2018

Two more Fortis Healthcare independent directors quit ahead of EGM

YES Bank's stance with regard to the EGM is not clear, however, its action clearly puts pressure on the four independent directors who had backed the Munjal-Burman offer.....»»

Category: topSource: business-standardMay 21st, 2018

Tatas complete acquisition of controlling stake of 72.65% in Bhushan Steel

The investment from BNPL in Bhushan Steel has been done through a combination equity of Rs 1.58 billion and inter-corporate loan of Rs 349.73 billion.....»»

Category: topSource: business-standardMay 18th, 2018

Battle for Essar Steel: ArcelorMittal sets terms for Rs 70 bn repayment

Global steel giant has deposited the amount in an escrow account of SBI to become eligible to bid for bankrupt Essar Steel.....»»

Category: topSource: business-standardMay 18th, 2018