New Delhi, June 28 (IANS) Vedanta Resources Ltd has said that it is in the process of arranging of financing for delisting of Vedanta Ltd and that the delisting is expected to be completed in coming weeks.
In a statement, Vedanta Resources said that its board noted the approval by the shareholders of Vedanta Ltd of its delisting proposal. Vedanta Ltd is a subsidiary of the diversified natural resource company Vedanta Resources Ltd.
“VRL is in the process of arranging the financing for the delisting. We expect this to be concluded in the coming weeks, at which stage the Company will apply to the stock exchanges for approval to proceed with the delisting process,” it said.
Last month Vedanta Ltd had initiated the process for seeking shareholders’ approval for delisting and on Thursday it received shareholders’ approval for delisting the company.
Vedanta Resources, which owns 50.1 per cent of Vedanta Ltd, offered to acquire all of the balance 49.9 per cent shareholding held by the public and delist the company.
–IANS
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