AM/NS completes ₹16,500 crore acquisition of port, power infra assets of Essar Group

Steel maker ArcelorMittal’s arm AMNS India has concluded the acquisition of two port assets and a power plant from the Essar Group for a net value of about₹16,500 crore having received requisite corporate and regulatory approvals.

This transaction, fully funded by AM/NS India, follows an August agreement with Essar to acquire several power and infrastructure assets that are either captive or allied to AM/NS India’s operations and will strengthen the strategic integration of the company’s manufacturing and logistics chain.