The proposed demerger of Vedanta’s diverse verticals that represent more than 15 commodities, will see the company progress from being asset managers to asset owners, Chairman Anil Agarwal has said. The proposed demerger will create independent companies housing aluminium, oil and gas, power, steel and ferrous materials, and base metals businesses. The existing zinc and […]
Vedanta Ltd. has put a plan to sell its steel business on hold after a $1 billion share sale gave the company more breathing room with its finances, and as environmental and regulatory concerns deter potential bidders, according to people familiar with the matter. Mumbai-headquartered Vedanta, controlled by Anil Agarwal, had been working with advisers
Vedanta is said to put $2.5 billion steel business sale on hold – ET Infra Read More »
Debt-laden Vedanta Ltd will complete the divestment of its steel assets by March 2024, the group’s chairman Anil Agarwal told an Indian TV channel, while the metals-to-oils conglomerate plans to demerge its business units into independent ‘pure play’ companies to unlock value. Steel assets will get sold in this fiscal year, Agarwal told CNBC-TV18 channel.
Vedanta to complete steel asset sale this fiscal year, says Anil Agarwal – ET Infra Read More »
