ArcelorMittal agrees on concessions to seal Rs 5,800-cr JV with SAIL

ArcelorMittal, the world's largest steel producer, said on Wednesday it has agreed to make concessions to Steel Authority of India on technology transfer to seal a delayed $897 million (Rs 5,800-crore) automotive joint venture.

The two companies are close to ironing out key commercial terms to close the deal, including non-compete and exit clauses as well as finalising policy on arbitration, three sources with direct knowledge of the negotiations told Reuters. "In the interest of the strategic partnership, some concession.....

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