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...
JSW Steel slows process to buy stake in Canada Teck coal unit amid diplomatic row
India’s JSW Steel Ltd is slowing down the process to buy a stake in the steelmaking coal unit of Canada’s Teck Resources, a source close to the discussions said, in the first sign that a diplomatic spat is...
Vedanta should buy parent’s African copper biz: Agarwal
Anil Agarwal, the mining tycoon, has suggested that his publicly traded company Vedanta Ltd acquire Konkola Copper Mines from parent Vedanta Resources Ltd, which has regained control of one of the world’s largest copper...
JSW Steel may pick majority stake in Teck Coal unit
JSW Steel Ltd. is looking to form a consortium to bid for a majority stake in Teck Resources Ltd.’s steelmaking coal business, people with knowledge of the matter said, potentially rivalling an $8 billion offer from...
Glencore in advanced talks for Argentina copper stake – Bloomberg News
Glencore is in advanced talks to buy out its partner in Argentina’s Mara copper project as it seeks higher exposure to the metal, Bloomberg News reported on Friday. The company is close to finalizing a deal to...
