Castings and pig iron manufacturer, Kirloskar Ferrous Industries, is acquiring a majority stake (51.25%) in Indian Seamless Metal Tubes (ISMT) through a preferential allotment and sole control over ISMT. Kirloskar...
Kirloskar Ferrous acquires 51.25% stake in ISMT, makes an open offer at Rs 30.84 to public
Kirloskar Ferrous Industries, a subsidiary of BSE listed Kirloskar Oil Engines, has acquired a 51.25% equity stake in listed steelmaker ISMT Ltd triggering a 25 % open offer for shares from the public, according to...
Japan’s Mitsubishi Materials to sell aluminium business to U.S. fund
Japan’s Mitsubishi Materials Corp said on Thursday it will sell its aluminium business, used for beverage cans and automotive parts, to U.S. investment fund Apollo Global Management for an undisclosed sum...
Government to sell residual stake in Hindustan Zinc Limited
The government will sell its stake in HZL following the Supreme Court’s decision on Thursday, a senior official said. All options of disinvestment including open market sale will be considered. “The...
Vedanta mulls demerger of some businesses with separate listing & leadership
Billionaire Anil Agarwal-led Vedanta Ltd is evaluating a demerger of its aluminium, iron & steel and oil & gas businesses, which will be run as standalone listed entities with separate leadership in what it...
Govt invites bids from asset valuers for strategic sale of FSNL
The finance ministry on Thursday invited bids from asset valuers to assist the government in the strategic sale of Ferro Scrap Nigam Ltd (FSNL). FSNL, a miniratna CPSE under the administrative control of the steel...
Australia’s Newcrest to buy Canadian gold miner Pretium in $2.8 billion deal
Australia’s biggest gold producer, Newcrest Mining Ltd, said on Tuesday it would buy the rest of Pretium Resources Inc in a deal that values the Canadian miner at $2.8 billion. Newcrest has offered Pretium’s...
Vedanta to divest copper mine in Australia
Vedanta Ltd on Wednesday said its arm Monte Cello BV (MCBV) has entered into a term-sheet agreement to divest Mt Lyell Copper Mine in Australia. MCBV is the 100 per cent owner of the Mt Lyell Copper Mine, a small copper...
Pilbara Minerals finalises deal with POSCO for S.Korea lithium facility
Pilbara Minerals Ltd said on Tuesday it had finalised a joint venture agreement with steel giant POSCO to develop a lithium hydroxide conversion facility in South Korea, sending the Australian miner’s shares more...
Vedanta plans to invest $20 billion; eyes selloff of BPCL among others
Vedanta group chairman Anil Agarwal has said his companies are looking to invest around $20 billion in India, possibly during the privatisation of BPCL, Shipping Corporation and Hindustan Copper. “We are...
Myanmar Metals to sell Bawdwin project in wake of coup
Myanmar Metals said on Wednesday it planned to sell its 51% stake in the Bawdwin silver, lead, and zinc project in Myanmar, citing difficulties in securing financing for the $300 million projects after a coup led to...
Zambia court halts liquidation proceedings over Vedanta Resources mines
A Zambian court has stayed hearing by a state-appointed provisional liquidator for splitting up Vedanta Resources’ Konkola Copper Mines (KCM) unit and selling the assets. The stay on KCM liquidation proceedings...
