Anil Agarwal’s London-listed Vedanta Resources Group is planning to create a new diversified resources giant by merging Sterlite, Sesa Goa, Vedanta Aluminium and even its 60 per cent holding in Cairn India into one umbrella holding company. This new holding company will cover the entire resources spectrum — oil, iron ore, aluminium, copper, zinc and lead — and will mirror Vedanta Plc, virtually creating a dual listing structure. It will also simplify a complex ownership and corporate structure and infuse much-needed cash for the group’s expansion plans.
See http://www.business-standard.com/india/news/vedanta-plans-new-holding-company/465819/.
See also: Sesa-Sterlite investors resist union; Vedanta Aluminium’s debt pile Some shareholders of Sesa Goa and Sterlite Industries have opposed Anil Agarwal’s plans to create a mining behemoth by combining the two companies with Vedanta Aluminium, a loss-making, debt-laden company struggling to build a controversial mining project in Odisha’s tribal region. Last Saturday, Vedanta Resources announced that it will combine its two key listed companies in India with the privately held Vedanta Aluminium, creating a diversified metals and mining giant ranked seventh in the world on the basis of operating earnings.
http://articles.economictimes.indiatimes.com/2012-02-28/news/31108010_1_sesa-sterlite-sesa-goa-vedanta-resources.