Vedanta announced Merger of Sterlite Industries into Sesa Goa

Feb 27, 2012, 19:15 IST

Corporate Current Affairs 2012. The mining giant Vedanta on 25 February 2012 merged its Indian subsidiaries, Sterlite Industries into sister concern and iron ore miner Sesa Goa

The mining giant Vedanta on 25 February 2012 merged its Indian subsidiaries, Sterlite Industries into sister concern and iron ore miner Sesa Goa.

The merger is the part of company's strategy to consolidate and simplify the structure of company and eliminate cross holding. The move would also serve to improve capital structure of the company. Vedanta is a mining major led by Indian origin industrialist Anil Agarwal.

Vedanta would hold 58.3 per cent in the new company Sesa Sterlite. Sesa Sterlite would hold 58.9% stake in Cairn India.

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