State Bank of India has granted its consent to Vedanta’s proposed demerger that will separate its existing businesses into six independent pure-play companies, two bankers aware of the development said. This...
Bankruptcy court admits insolvency plea against listed firm India Steel Works
The Mumbai bench of the National Company Law Tribunal (NCLT) has admitted listed firm India Steel Works Ltd under the insolvency resolution process in an application filed by its operational creditor Stecol...
Sandur Manganese to foray into speciality steel with buyout of Arjas Steel
Sandur Manganese and Iron Ore is foraying into the speciality steel sector in India with the buyout of Arjas Steel, which is among the top five producers of speciality steel products in the country. Sandur Manganese...
Vedanta demerger likely to get nod from lenders by May end
Key lenders are likely to give their approval for the revenue stream-wise demerger of Vedanta by the end of May, a senior executive at the natural resources conglomerate told ET. “Right now, the file is with Sebi...
Board of Sandur Manganese & Iron Ores approves acquisition of 80% stake in Arjas Steel
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...
