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Vedanta Says Anglo American Stake Buy Meets Governance Requirements

Feb 4, 2019

Vedanta’s statement comes days after its shares plunged on Friday, as investors were skeptical of the merits of the investment and questioned the potential returns.

A bird flies by the Vedanta office building in Mumbai. (Image: Reuters/File photo)

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Indian miner Vedanta Ltd said on Monday that its foreign unit Cairn India Holdings Limited’s investment in Anglo American Plc met all governance requirements.

Vedanta’s statement comes days after its shares plunged on Friday, as investors were skeptical of the merits of the investment and questioned the potential returns.

The miner said on Thursday that Cairn India had paid $200 million to buy a stake in Anglo American from its parent Volcan Investments Ltd as part of its “cash management activities”.

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Source: News18

Published in Business