Anil Agarwal-led Vedanta Ltd expects to complete the demerger of its businesses by the September-end, according to a top company official. The company had earlier said it has pushed back its demerger by a quarter to...
Vedanta looks to go for four-way business split
Metals maven Anil Agarwal-owned Vedanta is considering trimming its proposed demerger into four units, from the originally planned six and later reduced to five, after a corporate tribunal blocked the spin-off of its...
Sandhar Tech rises after acquiring Sundaram-Clayton’s Aluminium die casting business
Sandhar Technologies advanced 2.82% to Rs 395.80 after the company said that its wholly-owned subsidiary Sandhar Ascast has acquired Sundaram-Clayton’s ‘high pressure and low pressure Aluminium die...
Mitsui to buy $5.3 billion stake in Rio Tinto iron ore project
Japanese trading house Mitsui & Co said on Wednesday it would acquire a 40% stake in the Rio Tinto-operated, Rhodes Ridge iron ore project in Western Australia for $5.34 billion, to strengthen its long-term earnings...
Rio Tinto and Glencore discussed merger but talks no longer active, source says
Glencore approached Rio Tinto, late last year about combining the two big copper producers but the discussions are no longer active, a person familiar with the matter said. The talks between Rio, the world’s No. 2...
February creditor meet key to Vedanta demerger plan
If the creditors of natural resources major Vedanta go ahead with their plan of giving consent for the company’s proposed demerger at a meeting next month, it will be a major step paving the way for the listing of the...
Vedanta creditors may meet in February to approve split of mining conglomerate
Vedanta Ltd. creditors will gather next month to give their final verdict on a plan to split the sprawling Indian mining conglomerate into at least five different businesses, a key step in a months-long effort to...
Two bids made for Glencore stake in New Caledonia’s Koniambo Nickel
Two potential buyers for Glencore’s stake in mothballed New Caledonian nickel producer Koniambo Nickel SAS (KNS) have submitted offers following site visits late last year, KNS said. Part of a loss-making nickel...
Pact signed for sale of MSTC arm to Japanese firm Konoike Transport
State-run MSTC has signed a share purchase agreement with Japan’s Konoike Transport for the strategic disinvestment of its arm Ferro Scrap Nigam for ₹320 crore, the Department of Investment and Public Asset...
Hindustan Zinc stake sale: Govt holds roadshows in India and abroad
The government has conducted several roadshows in the last 15 days in financial capitals like Mumbai, London, Boston and New York to assess the market and meet investors for sale of its stake in Vedanta Group firm...
Govt approves sale of FSNL to Japan’s Konoike Transport Co for Rs 320 crore
The government on Thursday approved the privatisation of Ferro Scrap Nigam Ltd (FSNL) to Japanese corporation Konoike Transport Co Ltd for Rs 320 crore. Under the Steel Ministry, FSNL is a 100 per cent subsidiary of...
Demerger of Vedanta likely by end of FY25: Top official
The demerger of mining conglomerate Vedanta Ltd’s key businesses, including aluminium, into separate listed companies is expected by the end of FY25, a top official of the company said on Wednesday. Vedanta Ltd...
