New Delhi, Oct 08: In a bid to acquire majority stake in Hindustan Zinc (HZL) following its privatisation last year, Sterlite Industries has approached the government seeking to buy additional equity in the company. The deal is expected to fetch the government around Rs 300 crore, sources said.
Anil Aggarwal promoted Sterlite Group which assumed management control over the zinc major last April has told the government it was interested in acquiring additional 18 per cent stake from the latter, sources associated with disinvestment process said.
If the deal goes through Sterlite Industries would increase its holding to well over 60 per cent.
The group acquired 26 per cent from government while an open offer following from the deal resulted in the company also buying an additional 20 per cent stake taking its tally to 46 per cent.
Bureau Report