Vedanta seeks to upsize loan to $2.75 billion for delisting
Vedanta Resources Plc is seeking to increase a planned $2.5 billion loan by $250 million to help it advance a decision to delist its main India unit, according to people familiar with the matter.
The proposed upsizing comes as the London-based mining conglomerate prepares to begin the formal offer, seeking to buy back the shares it doesn’t already own in Vedanta Ltd.NSE 1.17 % The firm won shareholder approval last week to begin the delisting process.
The decision is part of Chairman Anil Agarwal’s plan to simplify his investments across the complex multi-tiered corporate structure. Vedanta has interests in zinc, aluminum and oil and gas, all of which have been buffeted by volatile prices and concern about weak demand for metals and hydrocarbons because of the coronavirus pandemic.
