Category: Corporate News

India’s Vedanta Set to Demerge into Five Public Companies to Reduce Debt and Unlock Value India-based Vedanta Limited will break up into five separately listed companies early next month, as part of a multi-year restructuring program designed to reduce debt and unlock shareholder value. The demerger plan, approved by a tribunal in December, will see Vedanta operate as the holding company for its base metals business, while four other entities Vedanta Aluminium, Talwandi Sabo Power, Vedanta Steel and Iron, and Malco Energy will be separately listed. Anil Agarwal told the… Read More Here

Glencore Faces Uncertainty in South Africa as Ferrochrome Plants Struggle With High Power Costs Glencore’s ferrochrome operations in South Africa face growing uncertainty as the company signals it may withdraw from negotiations with the government over a proposed discounted electricity package. Without lower power costs, the multinational warns, its loss-making smelters cannot remain viable, putting thousands of jobs at risk. On February 27, Eskom, South Africa’s state-owned electricity utility, offered steeply discounted rates to the country’s two largest ferrochrome producers, including Glencore, in an effort to keep the plants operational.… Read More Here