indias-sterlite-in-26-billion-us-acquisition

India's Sterlite in $2.6 billion US acquisition

The cash-rich mining company announces India's largest cross-border M&A deal so far this year with its purchase of Asarco, but some uncertainties remain with respect to the target.
IndiaÆs Sterlite Industries will buy the operating assets of US-based smelting, mining and refining company Asarco for $2.6 billion in cash.

The acquisition includes three open-pit copper mines and a copper smelter in Arizona and a copper refinery, rod and cake plant as well as a precious metals plant in Texas, on a debt-free basis. Sterlite will assume operating liabilities but not legacy liabilities for asbestos and environmental claims for ceased operations. Sources close to the deal say the structure was developed to protect the buyer from any fallout from litigation pending against Asarco.

Asarco previously American Smelting and Refining Company is over 100 years old and the third largest copper producer in the...
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