Mumbai, June 13: Vedanta Resources has acquired a 100 per cent stake in Sterlite Gold, a Canadian gold mining firm, for an all-cash deal of Rs 285 crore. As part of the deal, Vedanta will buy the 55 per cent stake owned by Canada-based Twin Star in Sterlite for Rs 157 crore. The company will pay another Rs 128 crore for the remaining 45 per cent outstanding common shares of Sterlite Gold.
Bangalore, June 13: UK-based Cobra Beer will launch its brand of wines in the Indian market soon and is looking at a national presence in the next few months, a company executive said today.
Calcutta, June 13: Calcutta High Court has named four administrators to the estate of Priyamvada Birla. However, they will not function as long as a stay granted by the court on the appointment is effective.
New Delhi, June 13: A parliamentary panel has rebuked the steel ministry for failing to ensure raw materials for steel PSUs by adopting a lax attitude on the clearance of mining leases.
New Delhi, June 13: The government has decided to set up a one-man committee under the chairmanship of former joint secretary T.R. Rustagi to review circulars on service taxes. The Centre has also invited comments from the public, trade, industry and associations on the review.
