Hindalco to Complete EMIL Mines Acquisition by November 30

Hindalco Industries Ltd. will acquire EMIL Mines and Mineral Resources Ltd. by November 30, the company said in an exchange filing on Friday.

EMIL Mines is a wholly owned subsidiary of Essel Mining & Industries Ltd. Hindalco said it has signed a share purchase agreement for the transaction.

The company’s board had approved the deal in May. At the time, Hindalco said it planned to acquire EMIL Mines for a consideration of ₹480 million and assume a net debt of ₹11.31 billion.