Question
Recently, which of the following Mining company of India
acquire debt-ridden Athena Chhattisgarh Power for Rs 564.67 crore in an all-cash transaction?Solution
Formerly known as Sesa Sterlite/Sesa Goa Limited, Vedanta is the largest miner of zinc in India. Part of the Vedanta Group, it is also involved in the mining of copper, iron ore and aluminium, based mainly in Goa, Odisha, Rajasthan, Chhattisgarh, Tamil Nadu, Karnataka, Punjab Gujarat and Andhra Pradesh. Mining major Vedanta would acquire debt-ridden Athena Chhattisgarh Power for Rs 564.67 crore in an all-cash transaction. The liquidation process for the company was initiated in March last year. The deal will be completed in the current financial year, fulfilling its power requirement for its aluminium business. Athena Chhattisgarh Power has a 1,200-megawatt coal-based power plant located in Chhattisgarh's Jhanjgir Champa district.
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