Being positive about Vedanta Resources's possible acquisition of remnant government stake in its group firms Balco and Hindustan Zinc (HZL), the company's chairman, Anil Agarwal said that the deal may be struck by next year. Agarwal, who was at Indian Institute of Management, Ahmedabad (IIMA) for a session on 'Global Growth Strategies', said, "We are positive on the deal. We expect the acquisition of remaining government stake in Balco and HZL to be completed by next year."
Vedanta Resources had acquired about 51 per cent stake in Bharat Aluminium Company (Balco) and 64 per cent in Hindustan Zinc (HZL).
Talking about copper prices, Agarwal said, "The prices will hover around Rs 5,500-6,000 per tonne. It is very unlikely that the copper prices will return to the level it was three years ago."
When asked about mining possibilities in Gujarat, Agarwal said that the company intends to be present in the industrious state but has not made any plans for the same.
Agarwal, however, refused to comment on the Asarco deal.
