--ArcelorMittal (MT) has won approval from India's top court to complete its $5.8 billion purchase of Essar Steel India Ltd., putting tycoon Lakshmi Mittal one step closer to entering the world's second-biggest market, Bloomberg reports.

--The ruling, which sets a precedent for other insolvencies, grants a panel of the bankrupt company's lenders the discretion in the distribution of funds, according to the report.

 

Full story: https://bloom.bg/34VYJjs

 

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(END) Dow Jones Newswires

November 15, 2019 02:30 ET (07:30 GMT)

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