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Vedanta to Buy Indian Government’s Stake in Hindustan Zinc
Jul. 25, 2014 04:41PM PST
Base Metals Investing Reuters reported that the new Indian government has okayed the sale of its residual stakes in Bharat Aluminium Co. and Hindustan Zinc Ltd. (BSE:500188).
Reuters reported that the new Indian government has okayed the sale of its residual stakes in Bharat Aluminium Co. and Hindustan Zinc Ltd. (BSE:500188).
As quoted in the market news:
The government owns 29.5% of Hindustan Zinc and 49 percent of BALCO. Both the companies are majority owned by London-listed Vedanta Resources Plc.
In October, mining conglomerate Vedanta won the backing of its shareholders to offer up to $3.48-billion to buy the government’s stakes in the companies.
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