M&A

M&A

Anil Agarwal weighs Vedanta merger with India unit

Mint  

Vedanta Group's founder-promoter Anil Agarwal is considering a merger of his group's holding company with cash-rich, listed unit Vedanta Ltd. He has held talks with prospective advisers about the idea of combining his closely-held Vedanta Resources Ltd with Mumbai-traded Vedanta Ltd. The potential deal follows a global commodities boom that's fueled a rally in Vedanta Ltd. shares and almost doubled its market capitalization in the past year to about USD 17 billion. As of December 2021, Vedanta Resources owned almost 70% of Vedanta Ltd., up from about 50% in October 2020. It had about USD 11.4 billion of net debt as of Sept. 30