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Atul Auto looking to acquire majority stake in Scooters India

Three-wheeler maker, Atul Auto, is interested in acquiring a “not-less-than 51 per cent stake” in Scooters India, a public sector undertaking in which the Government is mulling a divestment. “We are interested in acquiring a majority stake in Scooters India. We will not go ahead with the deal if the Government sells us less than 51 per cent stake,” Atul Auto's Director, Vijay Kedia, told PTI here. Heavy Industries and Public Enterprises Minister, Vilasrao Deshmukh, had earlier said the Government was scouting for a joint venture partner to revive Scooters India. “We are going for a joint venture (for Scooters India) and there are many companies which have shown an interest,” Deshmukh had said. […]

NMDC keen on 10% equity in Aussie mining firm

State-run miner NMDC Ltd is keen on picking up 10 per cent equity in Australian mining firm Riversdale Mining, in which Tata Steel also has 19.38 per cent stakeholding, a top official of the company said today. “We are interested in picking up equity in Riversdale,” NMDC chairman and managing director Rana Som told reporters on the sidelines of CII function here today. Asked how much stake was NMDC eyeing in Riversdale, he indicated that it would be 10 per cent. Tata Steel had joined hands with Riversdale for developing mining activity in Mozambique. Som said that NMDC had also tied up with Tata Steel for jointly developing assets in that country. […]