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Cabinets to take decision regarding HZL sell off
 
Cabinets to take decision regarding HZL sell off
With expert opinion against offloading residual stake held by the government in Hindustan Zinc (HZL) at this point of time, the cabinet is likely to be informed that there is time till march 31, 07 to take a decision on the issue. This comes even as it becomes clear in certain quarters of the government that there is no case to push for an immediate offloading of the 29.5% by mutual funds, banks, insurance companies and FIIs and the rest by others. It is learnt that at the time of disinvestment, a clause, was included in the shareholders agreement with Sterlite that the residual shares would be sold by March 31,07. If not, Sterlite would be free to buy it at the fair market price prevailing at that time by exercising the call option.
Posted On : 11/24/2005 3:19:35 PM

 
 
 
Cabinets to take decision regarding HZL sell off