Posted: June 13, 2012 in Uncategorized

kracktivist

Monday, June 11, 2012

BY  Team Vcc
This follows a deal struck in February wherein VAL entered into a tripartite agreement with L&T and Raykal Aluminium Company Private Ltd.

LSE-listed Vedanta Resources’ group firm Vedanta Aluminium (VAL) has struck a deal to acquire Raykal Aluminium Company Private Ltd (Raykal) from diversified conglomerate Larsen & Toubro (L&T) for Rs 1,811 crore ($330 million) over a period of time in a milestone-based acquisition, the company has disclosed.

In the first leg of the deal, it has acquired 24.5 per cent of Raykal for Rs 200.7 crore ($36 million).

This follows a deal struck in February wherein VAL entered into a tripartite agreement with L&T and Raykal. L&T holds certain prospecting licenses for bauxite mines located at Sijmali and Kurumali of Rayagad and Kalahandi districts of Orissa. By this agreement the entire bauxite excavated from above mines will be available for…

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