Vedanta announced on Thursday that it will be selling its Zinc International assets to its subsidiary, Hindustan Zinc, for a cash consideration of $2.9 billion.
The assets, held by THL Zinc Ventures, will include shares in Black Mountain Mining in South Africa and THL Zinc Namibia Holdings in Namibia.
The transaction is subject to regulatory approvals and is expected to be completed in phases over the course of 18 months.
The sale is expected to unlock value and create substantial synergies for both THLZ and HZL, a leading producer of zinc, lead, and silver in India.
In a separate deal, Sun Pharmaceutical Industries also announced its acquisition of US-based Concert Pharmaceuticals for $576 million.
