Vedanta to pay Rs 150 cr for Malco's power arm

Vedanta Aluminum Ltd (VAL) is planning to buy the power business undertaking of Madras Aluminium Company Ltd (Malco) for an estimated Rs 150 crore. Vedanta Group will subsequently merge Malco with Sesa Goa Ltd as part of a larger amalgamation scheme, according to VAL Group’s Sterlite Industries (India) Ltd. Vedanta “shall pay to Malco a lump-sum cash consideration of around Rs 150 crore”, said a note from Sterlite Industries.