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Friday 6 May 2011

Lakshmi Mittal close to buying Kazakhastan-based firm


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Lakshmi Mittal, who controls ArcelorMittal, is close to buying Kazakhastan-based engineering, procurement and construction firm KazStroyServices Ltd (KSS) in his personal capacity, the Business Standard reported on Sunday. KSS owns 52.47% stake in India’s Petron Engineering Construction Ltd and the buy will give Mittal control over the Indian firm involved in construction of oil and gas pipelines and refineries, the report said, citing two unidentified sources.

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