Vedanta Limited: Further Clarification in Relation to the Transaction With Volcan
Vedanta Limited American Depositary Shares (Each representing four equity shares) (VEDL)
US:NYSE Investor Relations:
vedantalimited.com/investor-relations.aspx
Company Research
Source: PR Newswire
MUMBAI, India, Feb. 4, 2019 /PRNewswire/ -- Volcan Investments Limited (Volcan) and Vedanta Resources Limited, the parent companies of Vedanta Limited, holding more than 50%, have played a significant role in shaping and building Vedanta Limited businesses in a visionary and entrepreneurial manner. Volcan owns a 21% stake (voting interest) in Anglo American Plc (AA Plc). AA Plc is a globally diversified mining business that comprises of De Beers (largest diamond producer), copper, platinum and other precious metals, iron ore, coal and nickel.Cairn India Holdings Limited (CIHL), an overseas subsidiary of the Company, was offered the opportunity by Volcan to invest some of its surplus cash resources in a structured investment representing the economic interest in upside potential of ~24.71 million shares (~1.8% of outstanding shares) of AA Plc. The structure provides significantly higher returns compared to other overseas cash management investments that would typically return around 2%
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