Vedanta Acquires 51Pc In Sesa Goa For Rs 4,070Cr

Mumbai: Non-ferrous metals major Vedanta Resources appears to be preparing itself to get into steel making business to make itself a completely diversified metals and mining group. The Anil Agarwal-founded Vedanta Resources, a London-listed company, flagged off its new pursuit on April 24, by purchasing a controlling stake of 51 per cent in Sesa Goa Ltd. Vedanta, which owns 72.3 per stake in Sterlite Industries, declared the take over of the 51 per cent stake in Sesa Goa owned by Japan''s Mitsui for $981 million (around Rs 4,070 crore), implying a price of Rs 2,036 per share.