ArcelorMittal hikes stake in Uttam Galva to 33.8%
New Delhi, March 25: ArcelorMittal on Thursday said it has acquired another 4.9 percent stake in steel maker Uttam Galva for an estimated Rs 75-80 crore, taking the total shareholding in the domestic firm to 33.8 percent.
“We have completed the acquisition of 4.9 percent stake and now our total shareholding is 33.8 percent in Uttam Galva,” a company spokesperson told a news agency.
Officials from Uttam Galva confirmed the development and estimated the deal to be around Rs 75-80 crore.