Vedanta Resources Plc, a UK-based metals and mining company, is planning to acquire the Government of India's 29.53% stake in India-based zinc mining and producing company Hindustan Zinc Limited.
Based on the closing price of Hindustan Zinc common stock of INR667.80 per share on July 21, 2009, the 29.53% stake is estimated to be worth INR 83,323.856 million ($1,722.59 million).
Vedanta Resources currently holds a 64.92% stake in Hindustan Zinc.
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