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13 Jul 2018 15:25
13 July 2018
Vedanta Resources plc
Update from Vedanta Limited
Vedanta Resources plc's subsidiary Vedanta Limited today made the below announcement.
Pursuant to Regulation 30 of the Listing Regulations, we wish to bring to your notice that the Company has been informed today that it has been identified as the 'H1 Qualified Interested Bidder' as per the bid process of the consortium of lenders of GMR Chhattisgarh Energy Limited (GCEL) for sale of controlling equity stake and restructuring of debt in GCEL.
The receipt of any Letter of Intent and completion of the acquisition is subject to the negotiations with the consortium of lenders to the satisfaction of both parties and other requisite approvals.
For further information, please contact:
Communications | Finsbury |
Arun Arora Head, Corporate Communications Tel: +91 124 459 3000 gc@vedanta.co.in
| Daniela Fleischmann Tel: +44 20 7251 3801 |
Investors | |
Rashmi Mohanty Director - Investor Relations
Sunila Martis Associate General Manager - Investor Relations
Veena Sankaran Manager - Investor Relations | Tel: +44 20 7659 4732 Tel: +91 22 6646 1531 ir@vedanta.co.in |
About Vedanta Resources
Vedanta Resources plc ("Vedanta") is a London listed diversified global natural resources company. The group produces aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia and South Africa. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of trust, sustainability, growth, entrepreneurship, integrity, respect and care. To access the Vedanta Sustainable Development Report 2017, please visit http://www.vedantaresources.com/media/214366/vedanta_sd_report_2016-17.pdf. For more information on Vedanta Resources, please visit www.vedantaresources.com
Disclaimer
This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and/or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
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