Pursuits
Billionaire Birla Said to Seek $350 Million Selling Real Estate
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Billionaire Kumar Mangalam Birla is seeking to raise $350 million from the sale of land to help pay for coal mines his group won in government auctions last month, according to people familiar with the matter.
His flagship company Hindalco Industries Ltd., India’s No. 2 maker of aluminum and copper, is looking to sell surplus real estate at four locations, the people said, asking not to be identified as they aren’t authorized to speak on the subject. Hindalco has hired advisers to complete the deal by March, they said.