Tuesday, April 24, 2007

WRAPUP 2-Vedanta to spend $1.37 bln for India's Sesa Goa

(Reuters) - LONDON/TOKYO, April 24 - UK-listed miner Vedanta has bought 51 percent of Indian iron-ore exporter Sesa Goa Ltd and said on Tuesday it planned to buy a further 20 percent, bringing the total cost of the deal to $1.37 billion.

Vedanta said it had bought Mitsui & Co Ltd's 51 percent stake in Sesa Goa for $981 million in cash, or 2,036 rupees a share, and that it was launching an open offer to buy a further 20 percent of the Indian firm at the same price.


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