July 4, 2019 / 6:53 AM / 7 months ago

Vedanta to seek court order saying Zambia's ZCCM breached shareholder pact

FILE PHOTO: A man walks past the logo of Vedanta outside its headquarters in Mumbai, India January 31, 2018. REUTERS/Danish Siddiqui/File Photo

JOHANNESBURG (Reuters) - Vedanta (VDAN.NS), in the middle of a dispute with the Zambian government over its Konkola Copper Mines (KCM) business, said it would seek an interim court order declaring that Zambian firm ZCCM had breached the terms of KCM’s shareholders’ agreement.

“Vedanta will seek an interim court order declaring that ZCCM has breached the KCM Shareholders’ Agreement by pursuing winding-up proceedings against KCM in Zambia, and directing ZCCM to withdraw those proceedings,” Vedanta said in a statement.

Vedanta said an urgent application had been served on ZCCM and a provisional liquidator appointed for KCM.

Reporting by Alexander Winning, editing by Deepa Babington

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below