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
-
Who is the richest person in the world?
The top five richest people in the world have a combined net worth of $825 billion. Who takes the crown for the richest person in the world?
By Vaishali Varu Published
-
Top 10 stocks with highest growth over past decade - from Nvidia, Microsoft to Netflix, which companies made you the most money?
We reveal the 10 global companies with the biggest returns since 2013. One firm has posted an astonishing 9,870% return, meaning a £1,000 investment would now be worth almost £82,000.
By Ruth Emery Published