Vedanta's plan to trim debt hits roadblock as govt opposes Hind Zinc deal

Indian billionaire Anil Agarwal’s plan to trim a massive debt pile hit a roadblock after New Delhi said it would block the sale of a zinc manufacturing unit.
 

The government has threatened to take legal action to stop Agarwal’s Vedanta Group from selling the unit to its subsidiary Hindustan Zinc Ltd., which is around 30% state-owned. 

The move throws a spanner in London-based Agarwal’s plan to use the proceeds from the sale to trim Vedanta Resources Ltd.’s debt. S&P Global Ratings flagged earlier this month that the company’s debt scores may “come under pressure” if it’s unable to raise $2