VEDANTA WANTS TO SELL SHARES IN KCM TO RAISE 1.3 BILLION DOLLARS
We may sell KCM Shares, VEDANTA
…we are trying to raise $1.3billion…
Vedanta Base Metals CEO Chris Griffith says the company is talking to a range of financing partners to raise money for a restart of its Konkola Copper Mines unit in Zambia, including the sale of a minority stake in KCM.
“We are in the fundraising process at the moment to raise $1.3 billion,” he said.
That may involve one of a number of potential outcomes, “one of which is a potential equity sale into Vedanta’s 80% that we own in KCM”, he added.
Source: The Economic Times, Nasdaq, Business Standard