<p class="title">Global steel giant ArcelorMittal on Monday said it has completed acquisition of Essar Steel and formed a joint venture with Nippon Steel (AM/NS India) to own and operate the debt-ridden firm.</p>.<p class="bodytext">The deck for acquisition of Essar Steel for Rs 42,000 crore by L N Mittal-led company was cleared by the Supreme Court last month.</p>.<p class="bodytext">Aditya Mittal, President and CFO of ArcelorMittal, has been appointed Chairman of AM/NS India, and Dilip Oommen has been appointed as its CEO.</p>.<p class="bodytext">"ArcelorMittal announces that it has today completed the acquisition of Essar Steel India Limited (ESIL), and simultaneously established a joint venture with Nippon Steel Corporation (Nippon Steel), called ArcelorMittal Nippon Steel India Limited (AM/NS India), which will own and operate ESIL," ArcelorMittal said in a statement.</p>.<p class="bodytext">ArcelorMittal holds 60 per cent of AM/NS India, with Nippon Steel holding the balance. PTI NAM BAL</p>
<p class="title">Global steel giant ArcelorMittal on Monday said it has completed acquisition of Essar Steel and formed a joint venture with Nippon Steel (AM/NS India) to own and operate the debt-ridden firm.</p>.<p class="bodytext">The deck for acquisition of Essar Steel for Rs 42,000 crore by L N Mittal-led company was cleared by the Supreme Court last month.</p>.<p class="bodytext">Aditya Mittal, President and CFO of ArcelorMittal, has been appointed Chairman of AM/NS India, and Dilip Oommen has been appointed as its CEO.</p>.<p class="bodytext">"ArcelorMittal announces that it has today completed the acquisition of Essar Steel India Limited (ESIL), and simultaneously established a joint venture with Nippon Steel Corporation (Nippon Steel), called ArcelorMittal Nippon Steel India Limited (AM/NS India), which will own and operate ESIL," ArcelorMittal said in a statement.</p>.<p class="bodytext">ArcelorMittal holds 60 per cent of AM/NS India, with Nippon Steel holding the balance. PTI NAM BAL</p>