ArcelorMittal completes Essar Steel India purchase; forms JV with Nippon Steel

摘要

ArcelorMittal has completed the acquisition of Essar Steel India Ltd.'s, or ESIL, the company announced in an official press release Monday. The world's largest steelmaker also said that it has set up a joint venture with Nippon Steel Corp., called ArcelorMittal Nippon Steel India Ltd., which will own and operate ESIL. ArcelorMittal will own 60% of the JV, with Nippon Steel holding the rest 40%. Aditya Mittal, president and CFO of ArcelorMittal, has been appointed chairman of the JV and Dilip Oommen as its CEO.