• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy
• Books
• Gallery

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai, Sept 23 Vedanta Resources Plc has acquired 2.12 per cent in Sesa Goa through open market purchases between September 10 and 18, said Sesa Goa in a statement to BSE on Tuesday.

With the latest deal, the holding of Westerglobe Ltd, the wholly-owned subsidiary of London Stock Exchange-listed Vedanta Resources, will go up from 2.01 per cent to 4.13 per cent.

The other two Vedanta Group’s subsidiaries Finsider International and Twin Star hold 48.93 and 4.06 per cent stake in Sesa Goa.

Promoters stake will now go up to 57.12 per cent from 55 per cent.

Sesa Goa has also informed the BSE that the promoters may acquire additional shares in the company through open market purchases in the normal segment on the stock exchanges up to the limit specified by the regulator.

“As per Sebi regulation an acquirer, who together with persons acting in concert with him, holds between 55 to 75 per cent shares or voting rights in the target company, may acquire additional shares or voting rights entitling him up to five per cent voting rights in the target company through open market purchases in the normal segment on the stock exchange, provided he does not cross 75 per cent, without having to make an open offer,” said Sesa Goa.

More Stories on : Mergers & Acquisitions | Minerals

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line