Lakshmi Mittal

World's largest steelmaker ArcelorMittal to raise $3 billion to reduce debts, sells Gestamp shares at $1 billion

The leading steel company, ArcelorMittal, has no option but to raise money to pay off its huge debts. The company has resorted to issuing shares and selling off its minority stake in Gestamp, the Spanish auto-parts manufacturing company. The decision should fetch Lakshmi Mittal almost $4 billion - $3 billion from share issue and $1 billion from Gestamp - and reduce the debt burden to some extent.

Read Full Article

Indian steel magnate Lakshmi Mittal in talks to buy stake in Delhi Daredevils

Lakshmi Mittal, chief executive officer of ArcelorMittal, is negotiating with infrastructure company GMR Group to acquire a stake in Delhi Daredevils. The cricket team plays in the Indian Premier League.

Read Full Article

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics