Latest News | Vedanta Ltd to Conduct Review of Steel, Raw Material Businesses

New Delhi Jun 30 (PTI) Vedanta Ltd on Friday said it will conduct a strategic review of its steel and steel raw material businesses.

In a regulatory filing, the company said it has also engaged advisors to assist in this review.

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"The company has decided to initiate a strategic review of its steel and steel-making raw materials businesses. The review will begin immediately and evaluate a broad range of options to maximize stakeholder value, including but not limited to a potential strategic sale of some or all of the above-mentioned steel businesses," it said.

Vedanta Ltd did not provide any further details.

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A subsidiary of Vedanta Resources Limited, Vedanta Limited is one of the world's leading natural resources companies, spanning across India, South Africa and Namibia.

In June 2018, Vedanta Limited acquired Jharkhand-based steel company ESL Steel Limited through an insolvency resolution process.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)