Metals and mining major Vedanta on Thursday said that its board had approved the sale of its international zinc assets in South Africa and Namibia to subsidiary Hindustan Zinc (HZL) for $2.98 billion.
In a disclosure to the exchanges, stock Vedanta said the transaction would be an all-cash deal, which in a would-be completed phased manner over 18 months. The deal is subject to regulatory approvals, including shareholders' nod, Vedanta said.
Following the transaction, THL Zinc, which is a unit of Vedanta, and holds the international zinc assets, will become a wholly-owned subsidiary of Hindustan Zinc.
HZL Q3 results
This story is from the January 20, 2023 edition of Business Standard.
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This story is from the January 20, 2023 edition of Business Standard.
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