To have a clear ownership structure and in order to have a clear valuation of its Aluminium business,the Anil Agarwal-owned Vedanta Resources has planned to demerge its Aluminium Extraction Units operational in Orissa.
The newly formed company,"Vedanta Aluminium"is currently owned by Vedanta Resources with a stake of 70%,while Sterlite Industries that manages the Indian businesses of Vedanta,owns the rest.The demerger is planned by the London-based Advisers of Vedanta Resources.
After the demerger,which is subject to approval of the Stakeholders of Vedanta Resources,Sterlite Industries will be solely a zinc and copper producer.
The newly formed firm will also be a listed entity.
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