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Sterlite-Sesa Goa merger creating world’s seventh-largest natural resources company approved

By  |  April 24, 2012

The Competition Commission of India has cleared the merger between Sterlite Industries and Sesa Goa. The merged entity, Sesa Sterlite, will be the world’s seventh-largest natural resources company. Sesa Sterlite will become the holding company of parent Vedanta Resources’ group firms, including Cairn India, Hindustan Zinc, Balco, Vedanta Aluminium, Madras Aluminium, Talwandi Sabo Power and Australian Copper Mines. The merger is designed to synergize activities and is expected to save Vedanta Rs 1,000 crore a year.

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    Related content: Merger Control in India: Partial Implementation of the ICN Recommended Practices (Neil Campbell & Sorcha O’Carroll, McMillan)

     

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