India's Vedanta says Anglo American stake buy meets governance requirements

FILE PHOTO: A man walks past the logo of Vedanta outside its headquarters in Mumbai, India January 31, 2018. REUTERS/Danish Siddiqui - Copyright DANISH SIDDIQUI(Reuters)

By Reuters

Published on 04/02/2019 - 06:34•Updated 19/04/2024 - 15:07

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(Reuters) - Indian miner Vedanta Ltd said https://www.bseindia.com/xml-data/corpfiling/AttachLive/1d83894b-3223-4952-b182-ed46c724e8f0.pdf on Monday that its foreign unit Cairn India Holdings Limited's investment in Anglo American Plc met all governance requirements.

Vedanta's statement comes days after its shares plunged on Friday, as investors were skeptical of the merits of the investment and questioned the potential returns.

The miner said on Thursday that Cairn India had paid $200 million to buy a stake in Anglo American from its parent Volcan Investments Ltd as part of its "cash management activities".

(Reporting by Tanvi Mehta in Bengaluru; Editing by Shreejay Sinha)

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