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VEDL - Vedanta News Story

₹123.95 -0.5  -0.4%

Last Trade - 6:45am

Sector
Basic Materials
Size
Large Cap
Market Cap £4.73bn
Enterprise Value £7.53bn
Revenue £8.66bn
Position in Universe 66th / 2999

BUZZ-India's Vedanta surges 10% after promoter plans to take co private

Wed 13th May, 2020 5:01am
** Shares of the Indian miner Vedanta Ltd  VDAN.NS  rise as
much as 10% to 97.95 rupees, their highest in nearly two weeks
    ** Vedanta Resources Ltd on Tuesday said it would take its
Indian unit, Vedanta Ltd, private, as it looks to accelerate
simplification of its corporate structure amid the coronavirus
crisis  urn:newsml:reuters.com:*:nL4N2CU3JH
    ** Vedanta Resources said it would delist the Indian unit
from all stock exchanges and was willing to accept shares
tendered in the offer at 87.5 Indian rupees  ($1.16) per equity
share, a premium of 9.9% on Monday's closing stock price 
    ** Vedanta Resources owns 36.8% stake in VDAN
    ** Hindustan Zinc  HZNC.NS  in which Vedanta Resources owns
a 64.9% stake will continue to be listed in India 
    ** HZNC shares rise as much as 8.4% to 195 rupees, their
highest since Feb. 12
    ** Shares of VDAN have fallen 41.6% so far this year as of
last close

($1 = 75.3030 Indian rupees)

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
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