Vedanta To Acquire Electrosteel Steels
2018-03-31 Merger and Acquisitions Metallurgical Industries Western India
Vedanta Limited hereby informs that it has been declared as the successful resolution applicant by the committee of creditors for Electrosteel Steels Limited under the corporate insolvency resolution process of the insolvency and bankruptcy code, 2016 and has received a Letter of Intent (LoI) informing the company about the same. Vedanta Limited has accepted the terms of the LoI. The closure of the transaction will be subject to compliance with applicable regulatory requirements and as per the final terms approved by the National Company Law Tribunal.