Vedanta wins auction to acquire bankrupt Electrosteel Steels

Vedanta Ltd, the Indian unit of Vedanta Resources, has won an auction to acquire bankrupt Electrosteel Steels Ltd. The transaction is part of India's bankruptcy law process, and financial details were not disclosed.

“Vedanta Ltd, the Indian unit of diversified mining group Vedanta Resources plc, said on Saturday it had won in an auction to acquire bankrupt Electrosteel Steels Ltd.”marketscreener.com

• 4 sources
• marketscreener.comElectrosteel Steels : Vedanta wins bid to buy bankrupt Electrosteel Steels | MarketScreenerReutersMar 31, 2018
• thehindu.comVedanta resolution plan for Electrosteel gets approval from NCLT - The HinduK.T. JagannathanApr 17, 2018
• prnewswire.comVedanta Limited's Resolution Plan for Acquisition of Electrosteel Steels Limited Approved by National Company Law TribunalVedanta LimitedApr 17, 2018
• asianage.comLenders to get 7.6 pc in Electrosteel after Vedanta takeover | Lenders to get 7.6 pc in Electrosteel after Vedanta takeoverDC CorrespondentMay 3, 2018

Summarized from public sources; check the original articles before acting on it.