Sterlite Industries Limited, a subsidiary of Vedanta Resources plc (VED.L) announced Monday that it signed a new agreement with ASARCO LLC for the purchase of substantially all the operating assets of Asarco.
The purchase consideration comprises of a cash payment of US$1.1 billion and a senior secured non-interest bearing promissory note for US$600 million payable over a period of nine years. The amount of $600 million is payable as $20 million per year from the end of second year for a period of seven years and terminal payment of $460 million at the end of the ninth year.
For the year ended 31 December 2008, the Tucson-based mining, smelting and refining company Asarco had total revenues of nearly US$ 1.9 billion and profit before tax of US$ 393 million.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.