The logo of Vedanta sits on a newly molded ingot. Photographer: Oliver Bunic/Bloomberg Vedanta Ltd. will sell its international zinc operations to unit Hindustan Zinc Ltd. for $2.98 billion in cash to help consolidate the businesses and pare debt for ultimate parent, Vedanta Resources Ltd. Rajasthan, India-based Hindustan Zinc will buy the assets of THL Zinc Ltd. Mauritius in a phased manner from its parent over a period of about 18 months, subject to regulatory approvals, the Indian miner said in an exchange filing Thursday. The operations of THL include Black Mountain Mining (Pty) Ltd. in South Africa and Skorpion Zinc (Pty) Ltd. in Namibia, it said. “This investment is an attractive opportunity for Hindustan Zinc to grow and increase its foothold overseas and take its brand global,” it said in the filing. “This transaction will improve overall synergies between the businesses, market share gains as well as geographical diversification to a mineral-rich African continent.” The deal is important for Vedanta’s billionaire-owner Anil Agarwal, who is seeking to simplify the corporate structure of his commodities empire and cut Vedanta Resources’ debt after a failed attempt to delist Vedanta Ltd. in 2020. One way for Agarwal to generate cash has […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
