Vedanta Limited acquires Electrosteel Steels Limited

Vedanta Limited, through its subsidiary Vedanta Star Limited, acquired control of Electrosteel Steels Limited (ESL) after depositing INR 5,320 crore (approx. USD 800 million) in an escrow account. The acquisition includes an equity investment of INR 1,765 crore and an inter-corporate loan of INR 3,555 crore.

“The Company has acquired control over ESL and a new board of directors has been put in place.”prnewswire.com

• 1 source
• prnewswire.comVedanta Limited: Acquisition of Electrosteel Steels LimitedVedanta LimitedJun 4, 2018

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