Government Approves Stake Sale in Hindustan Zinc, Balco
The new government has approved the sale of its residual stakes in Hindustan Zinc and Bharat Aluminium, Finance Minister Arun Jaitley said on Friday.
The government owns 29.5 per cent of Hindustan Zinc and 49 percent of Balco. Both the companies are majority owned by London-listed Vedanta Resources.
In October, mining conglomerate Vedanta won the backing of its shareholders to offer up to $3.48 billion to buy the government's stakes in the companies.
Copyright: Thomson Reuters 2014
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