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VEDANTA PLANS 68 MLN CAD CASH BID FOR STERLITE GOLD
AFX Europe (Focus)
Jun 13, 2006
LONDON (AFX) - Vedanta Resources PLC said it is to launch a 68.45
mln cad cash bid for Sterlite Gold Ltd.
The offer is equivalent to 0.258 cad per share of Sterlite, which is
listed on the Toronto Stock Exchange.
As part of this transaction, Vedanta said it has agreed to acquire
the entire share capital of Twin Star International Ltd, which holds
a 55 pct stake in Sterlite, for 37.68 mln cad in cash.
Principal assets of Sterlite are located in Armenia and include an
open pit gold mine at Zod and a gold processing plant at Ararat.
Sterlite's measured and indicated resources are estimated at around
2.1 mln ounces.
AFX Europe (Focus)
Jun 13, 2006
LONDON (AFX) - Vedanta Resources PLC said it is to launch a 68.45
mln cad cash bid for Sterlite Gold Ltd.
The offer is equivalent to 0.258 cad per share of Sterlite, which is
listed on the Toronto Stock Exchange.
As part of this transaction, Vedanta said it has agreed to acquire
the entire share capital of Twin Star International Ltd, which holds
a 55 pct stake in Sterlite, for 37.68 mln cad in cash.
Principal assets of Sterlite are located in Armenia and include an
open pit gold mine at Zod and a gold processing plant at Ararat.
Sterlite's measured and indicated resources are estimated at around
2.1 mln ounces.