Vedanta Resources Sells Stake in HudBay Minerals to Investors
Vedanta Resources Plc (VED), 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.
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