Orient Refractories (ORL) plans to merge its two unlisted subsidiaries – RHI India and RHI Clasil – with itself for better operational efficiency and simplify holding structure. All three companies are part...
Arconic weighs buyout approaches from private-equity firms: WSJ
Aluminum products maker Arconic Inc is weighing takeover approaches from at least two private-equity groups, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The company’s shares...
Sterlite Tech arm completes acquisition of Metallurgica Bresciana
Sterlite Technologies today said its subsidiary has completed acquisition of Metallurgica Bresciana, a European specialised optical cable manufacturer, for 47 million euros in an all-cash deal. In a regulatory filing...
Canadian miner Lundin plans to buy Nevsun Resources for C$1.4 billion
Canada’s Lundin Mining Corp said on Monday it plans to make an offer to buy base metals company Nevsun Resources Ltd for about C$1.4 billion ($1.07 billion), its second proposal in three months. Lundin offered C$4.75...
Indonesia to announce Freeport acquisition structure: source
Indonesia is set to announce later on Thursday the details of a deal to acquire a majority stake in the local unit of U.S. copper miner Freeport McMoRan Inc (FCX.N), a source with knowledge of the matter said. The...
Cairn Energy says I-T department sells $216 million of Vedanta shares
British energy firm Cairn Energy Plc on Monday said the Indian government had sold some of the shares it owned in Vedanta Ltd, which were earlier attached in a tax dispute, for $216 million. The Edinburgh-based company...
Vedanta weighs $7 billion merger with Anglo American South Africa
Volcan Investments Ltd, the family trust of Vedanta Resources Plc. founder Anil Agarwal, is considering a plan to acquire control of Anglo American Plc’s South African business by merging Vedanta Resources with the...
Anrak Insolvency: RBI moves Hyderabad High Court to lift stay
The Reserve Bank of India (RBI) has moved the Hyderabad High Court seeking to permit State Bank of India to go ahead with insolvency proceedings against Anrak Aluminium, an Indo-UAE joint venture. In March, the high...
Australia’s South32 bids $1.3 billion for rest of Canada’s Arizona Mining
Australia’s South32 Ltd has bid $1.3 billion to take full control of Arizona Mining, offering a hefty premium for the Toronto-listed firm which is developing zinc, lead, manganese and silver assets. The offer of C$6.20...
Ferro Alloys may end up in liquidation; NCLT to pass judgment on July 12
After months of deliberations on resolution plans and various cases in the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT), Ferro Alloys Corp of India may finally end up...
Australia’s Fortescue Metals takes stake in Atlas Iron, may not support buyout
Australia’s Fortescue Metals Group (FMG.AX) said on Thursday it has built up a 19.9 percent interest in small iron ore miner Atlas Iron Ltd (AGO.AX), giving it a large enough stake to block a takeover of Atlas by...
Government approves restructuring of Indian Bureau of Mines
The government today approved the restructuring of Indian Bureau of Mines to reform the mineral sector regulation. The restructuring would enable the adoption of IT and space technology by the bureau to improve its...
