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Vedanta plans to spin off Aluminum Division
Mar. 15, 2010 08:36PM PST
Long TailIndian-focused mining group Vedanta (VED.L) reported that the company is planning to spin off its aluminium division with an announcement regarding a demerger due as early as this week.
Indian-focused mining group Vedanta (VED.L) reported that the company is planning to spin off its aluminium division with an announcement regarding a demerger due as early as this week.
The press release is quoted as saying:
The flotation would raise up to $3 billion and should take place before the end of the year, or at some point from June if the legal process is completed quickly.
Click here to access the entire press release
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