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Hindalco Indus. - Hindalco Industries Ltd reply to clarification sought by the exchange

By Religare

The Exchange had sought clarification from Hindalco Industries Ltd with respect to news appearing in Business Line on September 22, 2015 titled "Hindalco arm sells Australian copper mine"

Hindalco Industries Ltd replied stating "Please note that Aditya Birla Minerals Ltd (ABML) is our subsidiary listed on Australian Stock Exchange. Hindalco holds 51% share holding in ABML. Mount Gordon is a 100% subsidiary of ABML.

Please note that ABML is not a material subsidiary of Hindalco under clause 49 of the Listing Agreement.

The decision to sell Birla Mount Gordon Pty Ltd has been taken by the Board of Directors of ABML."

Story first published: Tuesday, September 22, 2015, 23:00 [IST]
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