Sesa Goa Ltd And Sterlite Industries (India) Ltd Shareholders' Nod For India Merger Plan-Reuters

Reuters reported that shareholders of India's Sesa Goa Ltd and Sterlite Industries (India) Ltd both controlled by London-listed miner Vedanta Resources, approved the plan to merge the group's various Indian arms into a single unit. In February, Vedanta said it was simplifying its business structure by merging its Indian subsidiaries into a single unit to cut costs, and planned to issue American Depositary Shares in the combined firm to be named Sesa Sterlite. The shareholders approved merging Sesa Goa, Sterlite Industries, The Madras Aluminium Co, Sterlite Energy and Vedanta Aluminium with requisite majority on June 21.