M&A

M&A

Vedanta buys addl 47% stake in AvanStrate for $78-M

Business Line   AvanStrate  

Vedanta Ltd will acquire an additional 46.57% stake in Tokyo-based electronics display manufacturing company AvanStrate for 12.2 billion Japanese yen (USD 78 million).The Anil Agarwal-promoted Vedanta already holds 51.63 % of AvanStrate, and this additional purchase will take its stake to 98.2%. The acquisition is being done through Vedanta’s wholly owned subsidiary, Cairn India Holdings.