Vedanta is working with JPMorgan to advise on business overhaul"

 Vedanta is working with JPMorgan to advise on business overhaul"

 

According to reports, Vedanta Group and JPMorgan Chase & Co. are working together to support a reorganization plan that was revealed in September. The action shows that the conglomerate's attempts to streamline its financial structure are making headway. Additionally, Vedanta is in talks to get a $1.25 billion private loan to meet its needs for refinancing."

"According to people familiar with the matter who asked to remain anonymous in order to discuss private matters, Vedanta Group is advising JPMorgan Chase & Co. on an overhaul of the Indian conglomerate that was announced in September."

This indicates that billionaire Anil Agarwal's energy-to-metals company is making headway on streamlining the intricate financial system. The organization is also looking for money to pay back almost $3 billion in dollar bonds that are due in the next two years.

According to a Bloomberg story earlier this month, Vedanta is in advanced discussions to seek a $1.25 billion private loan to assist satisfy its refinancing requirements."

 

A Vedanta representative said, "demerger of this size and scale needs to go under multiple processes, including stock exchange notifications." "After receiving preliminary regulatory approvals, we are in the process of appointing advisors; this will be finalized in due course."

A representative at JPMorgan refused to comment."