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Money > PTI > Report March 1, 2001 |
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Govt sells Balco stake to SterliteThe government on Friday sold its 51 per cent stake in public sector Bharat Aluminium Company (Balco) to Sterlite Industries Ltd for Rs 5.515 billion. Sterlite Industries handed over a cheque for Rs 5.515 billion to the government after signing the shareholders agreement and share purchase agreement, official sources said. The agreements were signed by Aruna Bagchi, joint secretary, ministry of mines, on behalf of the government, S C Tripathi, additional secretary, ministry of mines and chairman and managing director Balco on behalf of the public sector company and Tarun Jain, director (finance) for Sterlite Industries. Dipak Chatterjee, secretary, ministry of mines, and Pradip Baijal, secretary, department of divestment were also present on the occasion.
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