Vedanta Resources Ltd on Thursday said it has raised $1.4 billion (around Rs 10,500 crore) via bonds, which would be primarily used to fund the delisting of its Indian flagship firm. “Vedanta Resources Ltd (VRL)...
Australia’s South32 to sell manganese alloy smelter TEMCO to UK’s GFG Alliance
Australian diversified miner South 32 Ltd said on Thursday it would sell its entire stake in manganese alloy smelter Tasmanian Electro Metallurgical Company (TEMCO) to UK-based conglomerate GFG Alliance. GFG will...
ArcelorMittal completes Rs 2,350-cr acquisition of Odisha Slurry Pipeline Infrastructure
ArcelorMittal, the world’s biggest steelmaker, has completed its Rs 2,350-crore acquisition of Odisha Slurry Pipeline Infrastructure after paying lenders the full principal amount, securing a crucial asset for its newly...
GFG Alliance is keen on acquiring more stressed assets from India: Sanjeev Gupta
The Gupta Family Group Alliance, led by UK-based Sanjeev Gupta, is keen on investing and acquiring more stressed assets in the metals and mining space in India. The group entered the country earlier this year, acquiring...
Mediawan to buy Lagardere Studios and form new holding company
French group Mediawan announced on Monday a raft of deals, including the acquisition of Lagardere Studios, as part of a broader expansion laid out by its founders, who will also establish a new holding company for the...
Coal India arm to see viability of merger of NTPC’s two mines in Chhattisgarh
Coal India’s consultancy arm CMPDIL has been roped in by NTPC to make separate mining plans for Banai and Bhalumuda coal mines in Chhattisgarh with an aim to maximise the extractable reserves by merging operations...
Anil Agarwal in talks with banks to raise up to $2.5 bln for Vedanta delisting
Vedanta Ltd’s promoter Anil Agarwal is in talks with several banks to tie up loans worth $2.0 billion-$2.5 billion to help finance the delisting offer of Vedanta. On 12 May, Vedanta Resources, the promoter entity...
Tianqi Lithium parent to sell 6% stake in struggling Chinese firm
China’s Tianqi Lithium Corp, one of the world’s biggest lithium producers, said on Monday its controlling shareholder planned to sell around a sixth of its holding, which could raise more than $200 million in much...
Adani, Essar, Reliance Industries participate in CIL’s CBM pre-bid meeting
Coal India’s Jharia block holds CBM reserves of 25 billion cubic metres and is expected to start production two years after it is initiated. The project is estimated to cost Rs 3000 crore. Adani, Essar and...
U.S. proposes divestiture as condition for Novelis purchase of Aleris
The U.S. Justice Department proposed on Tuesday that Novelis Inc divest Aleris Corp’s entire North American aluminum auto body sheet operations as a condition of its acquisition. The Justice Department filed a lawsuit...
Aurubis to win EU approval for Metallo takeover – sources
Europe’s biggest copper smelter Aurubis is set to win EU antitrust approval for its planned 380 million euro ($412 million) acquisition of Belgian-Spanish metal recycling group Metallo, people familiar with the matter...
Hindalco’s subsidiary Novelis completes $2.8 bn acquisition of Aleris
Aditya Birla Group metals flagship, Hindalco Industries, on Tuesday announced the completion of Aleris acquisition by its wholly-owned subsidiary Novelis Inc. The deal, which closed at an enterprise value of $2.8...
