There are no plans to merge Vedanta Limited with its London-based indebted parent Vedanta Resources, billionaire Anil Agarwal said on Wednesday, a day after his company scrapped its proposed restructuring plans that had...
Vedanta drops restructuring plan, board finds present structure ‘optimal’
Vedanta Limited said that it has dropped its restructuring plans which involved hiving off and listing three of its businesses after its board found the present structure to be “optimal”. The company had in November...
Vedanta demerger call by March-end: Anil Agarwal
Metals and mining group Vedanta Ltd will announce the contours of a proposal to spin off key businesses into separate listed companies by March-end, its chairman Anil Agarwal said, as he looks to simplify and streamline...
Jindal Aluminium acquires Indo Alusys’ extrusion plant for Rs 100 crore
Jindal Aluminium Limited has concluded a Rs 100-crore acquisition of the assets of Indo Alusys Industries Limited (IAIL) and commencement production at the revived Bhiwadi plant. The acquisition of IAIL’s assets...
Nalco, Hind Copper strategic sale plans may soon land on Cabinet table
The disinvestment department is expected to soon seek cabinet clearance for the strategic sale of National Aluminium Co Ltd (NALCO) and Hindustan Copper Ltd (HCL), people familiar with the development told ET. Demand is...
Kirloskar Ferrous Industries to acquire 51.25% stake in Indian Seamless Metal Tubes
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...
