vedanta group to restructure its business, formed a committee of directors

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vedanta group to restructure its business, formed a committee of directors

New Delhi, Nov 17 (PTI) Anil Agarwal-led Vedanta Group is contemplating a restructuring plan to demerge aluminium, iron, steel and oil and gas businesses and list them as separate entities. can go.

Group leader Vedanta Ltd, in a communication to the stock exchanges on Wednesday, said its board has constituted a committee of directors to review the group’s restructuring plan and suggest options.

According to Vedanta, its board of directors has decided that taking into account the nature, volume and potential opportunities of various businesses, the company should undertake a comprehensive review of the corporate structure and consider all available options. It also includes instruments such as mergers, acquisitions and strategic partnerships.

After a detailed assessment of the group’s business structure, steps may be taken to have a separate listed company each for aluminium, iron and steel and oil and gas businesses.

The Board of Directors of Vedanta has taken this decision in the process of restructuring to streamline the corporate structure, in the interest of all stakeholders and with the intention of raising new business. For this, the board has also appointed several advisors to assist the directors.

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