Sesa Goa acquires remaining stake of Western Cluster
Sesa Goa, a subsidiary of FSTE 100 company Vedanta Resources plc, is the sole owner of Liberia's Western Cluster after acquiring the remaining stake from Minerals and Mining, Delware.
Sesa Goa, a subsidiary of FSTE 100 company Vedanta Resources plc, is the sole owner of Liberia's Western Cluster after acquiring the remaining stake from Minerals and Mining, Delware.
The iron-ore producer and exporter has purchased 49% of the outstanding common shares of Western Cluster for a cash consideration of $33.5m.
"Western Cluster is a logical and strategic fit with Sesa's existing iron ore business and is expected to create significant long term value for all stakeholders," Vedanta said in a release Friday.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company said exploration activities were progressing well, having last month completed more than 42,000 metres of drilling.
Sesa Goa is India's largest producer and exporter of iron ore in the private sector and Vedanta said it believed it was on course to becoming one of the top four in the world.
Vedanta shares dropped 2.16% to 1,130.00p at 09:23 Friday.
RD
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
‘I installed a heat pump in my home – here are five things I’ve learnt’
From the size and noise of a heat pump to how much it costs to run one, Ruth Emery reveals what she’s learnt after installing one in her home six months ago
-
3 ways to work out if a stock is good value
The only thing you can really control in investing is the price you pay for an asset – but how can you tell if you’re getting a good deal when it comes to the price of a stock?