Russian aluminium producer Rusal is expected to complete the demerger of its higher-carbon assets into a separate company in the first quarter of 2022, its head of strategy Oleg Mukhamedshin told Reuters. Hong-Kong...
Tata Steel Mining declared successful resolution applicant for Rohit Ferro-Tech
Tata Steel Mining Limited (TSML) has been declared as the successful resolution applicant by the creditors of Rohit Ferro-Tech Limited, steel major Tata Steel said on Sunday. Tata Steel Mining Limited is a wholly-owned...
Bain-led consortium to buy Hitachi Metals for $7.5 billion
A consortium led by global private equity firm Bain Capital will buy all the shares of Hitachi Metals Ltd for 817 billion yen ($7.5 billion), Hitachi Ltd’s metals subsidiary said on Wednesday. For Hitachi, which...
First parts of billionaire Sanjeev Gupta’s steel empire headed for bankruptcy
Three French auto parts factories belonging to Alvance Aluminium, part of the steelmaking GFG Alliance owned by Indian-British billionaire Sanjeev Gupta, will file for bankruptcy protection on Friday, the company and...
Hitachi in talks with Bain to sell metals unit for over 800 billion yen: Nikkei
Japanese industrial conglomerate Hitachi Ltd picked a group led by Bain Capital as the preferential bidder for its metals unit in a deal likely to top 800 billion yen ($7.3 billion), Nikkei reported on Thursday. Bain...
Centre seeks early Supreme Court ruling on Hindustan Zinc stake sale
The Union government on Monday requested the Supreme Court for an early decision in a five-year-old writ petition challenging the offloading of government equity in Hindustan Zinc (HZL) and said pendency of the petition...
Aluminium producer Hydro agrees $1.65 billion sale of Rolling division
Norwegian aluminium maker Norsk Hydro has agreed to sell its underperforming Rolling division to private equity firm KPS Capital Partners for 1.38 billion euros ($1.65 billion), Hydro said on Friday. The division, which...
Oaktree agrees $400-mn Vedanta Resources debt investment
A unit of Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group, as the mining conglomerate looks to meet liquidity needs. The notes will be partly secured by shares in Mumbai...
London-based Vedanta Resources raises stake in India unit to 55.1%
London-based Vedanta Resources (VRL) has raised its stake in its India listed unit, Vedanta to 55.11 per cent by buying from open market shares worth Rs 2,959 crore. VRL bought 18.5 crore shares at a price of Rs 159.94...
Vedanta founder readies $10 billion to acquire PSUs
Commodities tycoon Anil Agarwal is planning to invest $10 billion through a new partnership targeting government privatizations in India. The billionaire is teaming up with London-based Centricus Asset Management Ltd to...
Rio Tinto to invest $10 million in low-carbon steel with China’s Baowu
Rio Tinto Ltd said on Wednesday it plans to invest $10 million in low-carbon steelmaking projects over the next two years in an effort to fight climate change with China Baowu Steel Group. The investment will be used to...
Airbus, Safran in approach for Eramet’s Aubert & Duval
Airbus, Safran and aerospace-focused fund Ace Aero Partenaires have submitted a non-binding offer for Aubert & Duval (A&D), the superalloys supplier owned by mining group Eramet, two people familiar with the...
