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GOOD FOR NEITHER

Article Abstract:

Hindalco, of the Kumar Mangalam Birla group, and India Foils, of the Khaitan group, have scrapped the deal to sell the majority stake in Indian Foils to Hindalco for Rs65 crore. Hindalco would have gained a market share of 10 percent and avoided competition from India Foils if the deal had been effected. India Foils has a capacity of 19,000 tonnes per annum and has a market share of 43 percent in aluminium foils. India Foils had high-cost debts which could have been cleared from the money got by selling its shares to Hindalco. The dropping of the deal has not helped both the companies. (rk)

Comment:

Hindalco, of the Kumar Mangalam Birla group, and India Foils, of the Khaitan group, have scrapped the deal to sell the majority stake in Indian Foils to Hindalco for Rs65 crore.

Acquisitions & mergers, Aluminum Foil, Aluminum Sheet, Plate, and Foil Manufacturing, Hindalco Industries Ltd.

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SESA KEMBLA SCOUTS FOR INVESTOR TO SET UP POWER PLANT

Article Abstract:

Sesa Kembla Coke Company Ltd (SKCCL) is scouting for a partner who would invest Rs120 crore to set up a 40 mw power plant at its coke plant. Its coke facility is located at Amona in North Goa. It is holding talks with domestic and multinational companies. SKCCL is the fully owned subsidiary of Sesa Goa. (rk)

Coal Mining, Coal Mine Coke, Coke, Sesa Kembla Coke Company Ltd, Sesa Goa Ltd.

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