The Board of Sandur Manganese & Iron Ores at its meeting held on 25 April 2024 has approved strategic business acquisition through purchase of 80% equity share capital of Arjas Steel (ASPL), by entering into a Share...
UAE conglomerate seeks to gatecrash China’s JCHX Zambian copper deal
A unit of International Holding Company, Abu Dhabi’s most valuable company, is interested in acquiring Zambia’s Lubambe Copper Mine, an asset that China’s JCHX Mining has already agreed to buy, three...
Hindustan Zinc may put off demerger
Hindustan Zinc Ltd (HZL) could put on hold its restructuring plan to create two separate entities for now after the government, which owns a 29.54% stake in the miner, resisted that bid. In a letter to the mines...
Vedanta’s plan to demerge businesses may face hurdles from shareholders, creditors: Report
Vedanta’s plan to demerge its businesses into separate entities could face hurdles from its minority shareholders and creditors, according to a report. On September 29, the mining conglomerate announced plans to...
Govt to sell 7% in NLC India via offer-for-sale, aims to raise ₹2,058 cr
The government will offload a 7% stake in state-run lignite producer NLC India through the offer-for-sale (OFS) route, which includes a green shoe option of 2%, a top official said on Wednesday. It would rake in about...
US aluminium maker Alcoa makes $2.2 billion offer for Australia’s Alumina
U.S. aluminium producer Alcoa Corp made a non-binding, conditional buyout proposal for its Australian joint venture partner Alumina, valuing the company at $2.2 billion in an all-stock offer. The deal raises exposure...
JSW Steel in talks for $1 billion stake in Australia’s Blackwater coal mine
Steel major JSW is reportedly in talks to acquire a 20% stake in Australia’s Blackwater coal mine, with the purchase expected to cost $1 billion. Media reports say the deal is expected to close by the end of this...
Vedanta’s demerger process to be completed in next 9-12 months: Official
Vedanta is working “actively” for demerger of its key businesses, including aluminium, into separate listed companies and the process is likely to be completed in next nine to 12 months, a top official of...
Russian tycoon’s investment group ICT sells Polymetal stake to Omani-owned consortium
Investment company ICT Holding, owned by Russian businessman Alexander Nesis, has sold its 23.9% stake in gold and silver producer Polymetal International to a consortium led by the Omani government, Polymetal said in a...
NCLT approves merger of Tata Metaliks with parent; not to announce separate quarterly results
The National Company Law Tribunal has sanctioned the amalgamation of Tata Metaliks Ltd into its parent Tata Steel, which led to the cancellation of board meeting ahead of financial results announcement of the subsidiary...
Vedanta’s demerger plan may overshoot timeline
Vedanta Ltd’s plan to demerge its businesses could overshoot its timeline of 12-15 months given the likely lender scrutiny, experts said, pointing to the complexities associated with the proposed value-unlocking...
Vedanta to demerge into six listed companies
Resources conglomerate Vedanta, which faces bond redemptions exceeding $3 billion over the next 18 months at its UK-based holding company, Friday said it would demerge into six listed companies to undergird the...
