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Centre to ask HZL to go for share swaps, warrants for $2.98 bn Vedanta deal

On January 19, the board of HZL approved the acquisition of zinc assets of THL Zinc Ventures, a subsidiary of Vedanta Ltd

Hindustan Zinc
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BS Web Team New Delhi
Centre may ask Hindustan Zinc Ltd (HZL) to consider options, other than cash, like share swaps, rights issues or warrants for the $2.98 billion acquisition of Vedanta's zinc assets, a report by Mint said. The Centre believes that the cash reserves must not be used for the party-related transaction. 

"We understand that the company needs to acquire mines to grow its business, but that should not be done through a cash acquisition. There are these options which the company can exercise. The government is a stakeholder in the company and has the right to cash reserves, and we will not

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First Published: Feb 27 2023 | 9:25 AM IST

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