Glencore approached Rio Tinto, late last year about combining the two big copper producers but the discussions are no longer active, a person familiar with the matter said.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...
Vedanta files demerger scheme with NCLT
Mining giant Vedanta has filed the demerger scheme with the National Company Law Tribunal (NCLT) post receiving all the required approvals, its CFO Ajay Goel said on Tuesday. Goel announced this in their quarterly...
Vedanta going ahead with demerger of businesses: Chairman Anil Agarwal
Vedanta Chairman Anil Agarwal on Wednesday said that the company is going ahead with the proposed demerger of its businesses that will lead to the formation of six firms and unlocking of massive value. The company has...
Anil Agarwal likely to sell a 2.5% stake in Vedanta
Billionaire Anil Agarwal’s Vedanta Resources is likely to sell a 2.5% stake in Vedanta Ltd in the next couple of weeks through block deals, said two persons aware of the development. Promoter group is likely to sell...
NCLAT directs NCLT to hear afresh insolvency plea by APL Apollo Tubes
The National Company Law Appellate Tribunal (NCLAT) has directed the NCLT to hear afresh the insolvency plea filed by APL Apollo Tubes against one of its purchasers of goods. A two-member bench came down heavily on the...
