Billionaire Anil Agarwal’s Cairn India Ltd. will spend about $1 billion to buy back shares giving him greater control over the company as environment rules derail his mining business, two people familiar with the plan said.
Temasek Holdings Pte unit’s offer to take over Olam International Ltd. shows Singapore’s investment firm is more active compared with other state-owned investors, according to the Sovereign Investment Lab.
Cyrus Mistry, chairman of Tata Sons Ltd., is writing down the value of some of the $15.5 billion assets purchased by his predecessor over two decades to boost the allure of India’s biggest corporate group.
Sesa Sterlite Ltd., controlled by billionaire Anil Agarwal, is close to restarting some of its iron ore mines in India as early as next month after a two-year shutdown shrank its revenue to the least since 2008.
Coal used to make steel is set to drop to the lowest price in two years, eroding earnings at BHP Billiton Ltd. and Rio Tinto Group, as European demand wanes and China shifts supply contracts to Mongolia from Australia.