Jai Saraf may bid for VedantaSteel biz against ex-employer
Former ArcelorMittal executive Jai Saraf is discussing a potential bid for Vedanta's steel business, ESL Steel, with private credit funds, including Nithia Capital and certain financial investors. Talks with ArcelorMittal are on the backburner due to valuation differences. Saraf and Nithia Capital previously turned around several stressed steel plants in Trinidad and Tobago, Mexico, Germany, Canada, and Kazakhstan.
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