Both secure and unsafe lenders will discuss and vote on a very waiting overall plan on February 18, said a company statement.
To implement this scheme, the approval of the majority representing the three-fourth part in the debt value of the present creditors is required.
Overall billionaire Anil Agarwal-controlled group will allow its business-aluminum, oil and gas, power, steel and semiconductors-alga units and improve the overall assessment of the group. Demerger is expected to help attract some new but risky businesses, such as semiconductors, to attract investors interested in. Vedanta’s parents will be Vedanta Resource Ltd., Holding Company.
Agarwal has long expressed his desire to facilitate complex financial composition, but even though the lender is allowed, previous plans cannot be applied.
London -based parents have reduced their debt billion by more than 4 billion in the last two years, and the goal is to pay Billion 3 billion more in the next three years.
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