Dec. 18 (Bloomberg) -- Vedanta Resources Plc, an Indian oil and metals producer, sold its stake in HudBay Minerals Inc.
“Vedanta sold its total share position of approx 15 million shares to a diverse collection of institutional shareholders,” HudBay Chief Executive Officer David Garofalo said in an e-mail today.
Vedanta said in 2009 that a subsidiary controlled 9.5 percent of Toronto-based HudBay, a miner of zinc, copper, gold and silver, as closely held Vedanta sought to expand in North America.
E-mails sent to London-based Vedanta’s corporate communications office weren’t immediately returned.
HudBay fell 4.8 percent to C$9.87 in Toronto. The shares have slumped 2.7 percent this year.
To contact the reporter on this story: Sonja Elmquist in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Simon Casey at email@example.com