Shardul AmarchandMangaldas, S&R Associates, EQUILEX act on acquisition of Indian Steel Corporation by ArcelorMittal India

ArcelorMittal Nippon Steel India Limited has made a structured acquisition of Indian Steel Corporation through Corporate Insolvency Resolution Process. Pursuant to the resolution plan, AM Mining India Private Limited will own 100% equity in Indian Steel Corporation Ltd. The deal was valued at Rs 897 Cr.

Shardul Amarchand Mangaldas advised ArcelorMittal India in this acquisition.

The deal team comprised Veena Sivaramakrishnan, Equity Partner; Soummo Biswas, Partner; Varun Marwah, Senior Associate; Sirhaan Seth, Associate.

The litigation team comprised Meghna Rajadhyaksha, Partner; Kriti Kalyani, Senior Associate; Harit Lakhani, Associate. 

Pallavi Shroff, Managing Partner, provided key strategic inputs on structuring of the transaction. 

The due diligence team for:

Projects and corporate law related aspects comprised Deepto Roy, Equity Partner; Rohit Rajagopal, Principal Associate; Varnika Mohan, Principal Associate; Anjuli Hora, Associate; Annapoorani Ramu, Associate.

Banking law related aspects comprised Soummo Biswas, Partner; Parth Gokhale, Partner; Varun Marwah, Senior Associate.

Real estate law related aspects comprised of Radhika Dudhat, Partner; Rachna Bagri, Counsel; Aditi Rastogi, Associate.

Employment law related aspects comprised Pooja Ramchandani, Partner; Suryansh Gupta, Senior Associate, Istuti Kapoor, Associate.

Insurance law related aspects comprised Ashish Teni, Partner; Uday Opal, Principal Associate; Anupam Choudhary, Senior Associate.

Competition law related aspects was handled by Gauri Chhabra, Partner.

S&R Associates advised the Committee of Creditors on this acquisition.

EQUILEX was the counsel for the resolution professional, Ajay Joshi.

Acquisition of Indian Steel Corporation Ltd. further consolidates the ArcelorMittal Group’s recent foray into the Indian steel business and will enhance its downstream capabilities.

If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.