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...
Amazon in talks to buy podcast firm Wondery: WSJ
Amazon.com Inc is in talks to buy podcast startup Wondery with a valuation of over $300 million, the Wall Street Journal reported on Wednesday citing people familiar with the matter. Deal talks are ongoing and...
Apollo, Carlyle, Bain are among bidders for planned Hitachi Metals sale: sources
Apollo Global Management, Carlyle Group, KKR & Co and Bain Capital are among potential bidders for Japan’s Hitachi Metals Ltd, people with knowledge of the matter said, a deal that could fetch more than $6.4...
Hindustan Copper board to consider raising funds by issue of shares via QIP
Hindustan Copper on Wednesday said its board will next week consider raising funds by issue of shares via qualified institutional placement (QIP). This will be to the extent of 15 per cent of existing paid-up equity...
Hitachi plans to sell Hitachi Metals in a deal worth over $6 billion: sources
Hitachi Ltd plans to launch a sale of its materials unit as early as next month in a deal that could be worth more than 700 billion yen ($6.6 billion), three people with knowledge of the matter said. Hitachi is planning...
GOCL Corp’s UK subsidiary to sell partial stake in Quaker Chemical for $35 mn
Hinduja Group firm GOCL Corporation on Monday said the company, through its UK subsidiary, has decided to divest 2,00,000 shares of Quaker Chemical Corporation, little less than half of its total holding, for USD 35...
NMDC board okays demerger of three-mn-tonne Chhattisgarh steel plant
India’s single largest iron ore producer, state-owned NMDC, said on Friday that its board had approved a proposal to demerge NMDC Iron & Steel Plant (NISP). The board met on Thursday and accorded in-principle...
NMDC’s Board approves demerger of iron and steel plant in Chhattisgarh
The board of directors of the state-owned iron ore producer, NMDC Ltd, has approved the proposal to demerge its 3 million tonne Iron & Steel Plant in Nagarnar, Chhattisgarh. “The Board of Directors of the Company at...
