Aditya Birla Group’s Hindalco Industries, which is the country’s largest aluminium producer, is considering raising as much as $500 million by issuing fresh shares, according to a Bloomberg news report. The news agency...
Teck to acquire 100 percent of Teena/Reward zinc project
Teck Resources Ltd * Teck to acquire 100% of teena/reward zinc project * Consideration will consist of AUD$10.6 million in cash * Teck resources Ltd – unit exercised right of the first refusal to acquire 49%...
Jindal Aluminium plans to venture into real estate business
MUMBAI: Jindal Aluminium, one of India’s largest manufacturers of aluminium extrusions, plans to venture into real estate business to monetize its 360-acre land parcels spread on the outskirts of Bengaluru, Delhi and...
Louis Dreyfus to explore stake sale in metals unit in H2 2017
Louis Dreyfus Company [AKIRAU.UL] expects to start conversations on potentially selling a stake in its metals business in the second half of 2017, Chief Executive Gonzalo Ramírez Martiarena said on Wednesday. A senior...
ZEE buys UAE’s oldest radio station Hum 106.2 FM
MUMBAI: Subhash Chandra-promoted Zee Entertainment EnterprisesBSE -0.33 % (ZEE) has acquired UAE’s Hum 106.2 FM, marking the Indian media conglomerate’s foray into radio. Launched in 1998, Hum is the UAE’s first Hindi...
India selling 7 per cent stake in miner Hindustan Copper
MUMBAI: India is selling a 7 percent stake in state-run Hindustan CopperBSE -3.90 % Ltd in stock market deals over two days to Friday, potentially raising the government Rs 4.02 billion ($60.5 million). The government...
Vedanta shareholders approve merger with Cairn India
LONDON: Mining major Vedanta Resources said on Tuesday that its shareholders have approved the merger of group companies Vedanta Ltd. and Cairn IndiaBSE 1.08 %. “Vedanta Resources announces that at its general...
Alcoa, Alumina settle dispute, revise joint venture
Alcoa Inc and its Australian partner, Alumina Ltd, have settled a dispute and agreed to make changes to their joint venture, removing an obstacle to Alcoa’s plan to split into two companies. The changes simplify...
Teck announces acquisition of securities of Jet Gold
Teck Resources Ltd : * Teck announces acquisition of securities of jet gold * Acquired 8,333,333 common shares, of Jet Corp and a $389,117 principal amount convertible debenture of Jet Gold Corp * Jet gold issued...
Hindalco divests stake in Australian arm Aditya Birla Minerals
MUMBAI: Aluminium maker Hindalco has divested its stake in Australian arm Aditya Birla Minerals for 73 million Australian dollars to Metals X. The divestment was completed in July this year. Aditya Birla Minerals...
Vedanta merger: Cairn calls shareholders’ meeting on September 12
Cairn India has called a shareholders’ meeting on September 12 to seek approval for the company’s takeover by its parent Vedanta Ltd under a revised all-share deal. In a bid to salvage the merger of cash...
Cairn’s biz outlook could suffer after merger with Vedanta
Oil company Cairn India’s business outlook might become more uncertain after its merger with metals major Vedanta because energy prices are less volatile than those of base metals. Vedanta recently sweetened the...
