PT Golden Energy Mines Tbk (PT GEMS), a step-down subsidiary of GMR Power and Urban Infra Limited, stated on Wednesday that it has entered into definitive agreements to sell PT Radhika Jananta Raya a 30% ownership...
Mining
Rio Tinto sweetens buyout offer for copper miner Turquoise Hill
Global miner Rio Tinto sweetened its takeover proposal for the 49% of Canada’s Turquoise Hill Resources it does not already own by $400 million to an all-cash $3.1 billion. To boost its chances of gaining direct...
ICICI Sec, Axis Cap among 5 bankers to manage govt’s HZL stake sale
ICICI Securities, Axis Capital and Citigroup Global Markets are among the five investment bankers selected to manage the sale of the government’s 29.53 per cent residual stake in Hindustan Zinc Ltd, an official...
Turquoise Hill rejects Rio Tinto’s $2.7 bln buyout offer
Turquoise Hill Resources Ltd on Monday rejected an offer by majority shareholder Rio Tinto Ltd, to buy the 49% stake it doesn’t already own for $2.7 billion, as it did not reflect the Canadian company’s full...
Centre shortlists six investment banks to assist in HZL stake sale
The Centre has shortlisted six merchant bankers to assist the government in offloading its 29.5 per cent residual stake in Hindustan Zinc in tranches. The merchant banks, which include ICICI Securities, SBI Capital...
Brigham Minerals explores sale of the company-sources
Brigham Minerals Inc, a company that owns the rights to extract oil and natural gas from land across numerous U.S. shale basins, is exploring options that include a sale or a merger, people familiar with the matter said...
Glencore sells Yancoal Australia stake in $293 mln block trade
Glencore has sold its minority stake in Yancoal Australia, the company confirmed on Wednesday, finally ending its time at the coal business that it’s been trying to exit for years. “Glencore can confirm it...
Bankruptcy court okays Orissa Metaliks’ revival plan for MSP Metallics
The dedicated bankruptcy court has approved a revival plan submitted by Orissa Metaliks Pvt Ltd (OMPL) for the integrated steel manufacturer MSP Metallics Ltd. Kolkata-based OMPL is paying about Rs 800 crore, whereas...
Holcim acquires Teko Mining in Serbia
Holcim has bought Teko Mining, a Serbian-based producer of aggregates, the Swiss building materials maker said on Tuesday. Teko, which has estimated 2022 sales of 20 million euros ($20.03 million), sells 2.4 million...
Centre seeks bids from i-bankers to assist stake sale in Hindustan Zinc
The Centre has sought bids from merchant bankers to assist the government in offloading its 29.5 per cent residual stake in Hindustan Zinc (HZL) in tranches. The Centre’s 29.5 per cent stake in HZL is valued at around...
Vedanta acquires debt ridden Athena Chhattisgarh Power for Rs 565 cr
Mining major Vedanta said it would acquire debt-ridden Athena Chhattisgarh Power for Rs 564.67 crore in an all-cash transaction. The liquidation process for the company was initiated in March last year. According to...
Russia tycoon Vladimir Potanin agrees to Nornickel-Rusal merger talks
Billionaire Vladimir Potanin, the biggest investor in MMC Norilsk Nickel PJSC, said he’s ready to discuss merging the mining giant with United Co Rusal International PJSC as sanctions against Russia weigh on...
