Hindustan Zinc has acquired to buy the zinc unit of the
The acquisition gives Vedanta a leading 11% global marketshare in a metal widely used by cars and consumer goods companies, and also catapults the company into the world’s lowest-cost zinc producer.
Anglo American has one of the finest zinc assets in the world that include Skorpion mine in Namibia, Lisheen in Ireland and Black Mountain in South Africa with combined reserves of 206 million tonnes of zinc and lead. The acquisition values Anglo American’s zinc business at 3-3.5 times forward earnings. The all-cash buyout of the zinc company would be completed in 3-4 months and would be funded entirely by the group’s cash reserves of $7.2 billion. The benefits will reflect in the current year itself since the acquisition will be valid with effect from January 1, 2010.
crackcrack| Company Name | CMP |
|---|---|
| Hindalco | 1015.10 |
| Vedanta | 770.65 |
| Hindustan Zinc | 589.95 |
| Jain Resource Recycl | 418.95 |
| Gravita India | 1649.35 |
| View more.. | |
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