Vedanta To Sell Zinc International Assets To Hindustan Zinc For USD 2,981 Million – Explained!

Anil Agarwal-promoted Vedanta on Thursday mentioned it can promote Zinc International belongings to Hindustan Zinc for a money consideration of USD 2,981 million.

Vedanta to promote Zinc International belongings to Hindustan Zinc for USD 2,981 million

The Vedanta’s board accredited the sale of Zinc International belongings held by THL Zinc Ventures Ltd (Mauritius) (THLZV), a direct wholly-owned subsidiary of the metals and mining main.

The belongings held THLZV by means of THL Zinc Ltd (Mauritius) comprising shares held in Black Mountain Mining Pty Ltd, South Africa (69.6 per cent) and THL Zinc Namibia Holdings (Pty) Ltd (100 per cent), Namibia, will probably be offered to the proposed wholly-owned subsidiary (SPV) of Hindustan Zinc Ltd (HZL) for a money consideration not exceeding USD 2,981 million, Vedanta mentioned in a submitting.

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Vedanta holds 64.92 per cent of the fairness share capital of HZL.

The proposed transaction will probably be topic to receipt of obligatory regulatory nods.

Subject to receipt of well timed regulatory approvals, the transaction is prone to be accomplished in a phased method over a interval of 18 months.

“The proposed transaction will unlock worth, monetise the mentioned zinc belongings and create substantial synergies for each THLZ and HZL.
Hindustan Zinc is the nation’s built-in producer of zinc, lead and silver.

[Disclaimer: This story was automatically generated by a computer program and was not created or edited by Journalpur Staff. Publisher: Journalpur.com]

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