Appeals court blocks land swap between BLM and miner Asarco, citing bad environmental analysisSeptember 14th, 2009 Appeals court blocks BLM-Asarco land swapPHOENIX — A federal appeals court ruled Monday that a proposed land exchange between the federal Bureau of Land Management and copper miner Asarco LLC violates environmental laws. The ruling in the lawsuit filed by three environmental groups in 2001 overturns a lower court decision backing the exchange long sought by Asarco.
Sterlite Industries makes higher $2.57B bid for Asarco, topping rival Grupo Mexico's offerSeptember 11th, 2009 Sterlite Industries boosts offer for AsarcoDENVER — Sterlite Industries Ltd. raised its bid Friday for Asarco LLC by 20 percent to $2.57 billion in cash, topping rival Grupo Mexico's offer to regain control of the mining company that has been operating under bankruptcy protection.
Sterlite revises bid amount for AsarcoSeptember 11th, 2009 MUMBAI - Sterlite Industries, with interest in non-ferrous metals and mining, Friday said it has revised its offer for purchase of US-based copper miner Asarco to $2.56 billion from its earlier bid of $2.13 billion. "After extensive discussion and review, in order to provide full cash payment to asbestos creditors, Sterlite increased its offer from $2.13 billion to $2.56 billion cash," the company said in a regulatory statement.
Starbucks to take control of French operations, turn it into a company-run businessSeptember 1st, 2009 Starbucks to take control of French operationsNEW YORK — Starbucks Coffee Co. said Tuesday that it is taking full control of its French operations and turning it into a company-run business.
Asarco awaits bankruptcy court recommendation to determine future of AZ copper minerAugust 31st, 2009 Miner Asarco awaits key bankruptcy recommendationDENVER — A court will soon decide if Asarco LLC, the nation's third-largest copper producer, will leave bankruptcy protection and return to Grupo Mexico's control or be sold to India's Sterlite Industries. U.S. Bankruptcy Judge Richard Schmidt was scheduled to recommend Monday whether Asarco's parent, Grupo Mexico, will regain the assets or whether they should be sold under a plan fashioned by Mumbai-based Sterlite and Tucson, Ariz.-based Asarco.
Sterlite hikes offer for US-based AsarcoAugust 20th, 2009 MUMBAI - Sterlite Industries, a leading metals major and part of Anil Agarwal's Vedanta Group, Thursday said it has hiked by $500 million its offer to purchase the assets of Asarco, the Texas-based bankrupt miner, smelter and copper refiner. "With this announcement, the revised bid will increase to $2.1 billion in cash, the company said in a regulatory statement.
Sterlite Industries increases bid to $2.1B as it battles Grupo Mexico for miner AsarcoAugust 20th, 2009 Sterlite Industries raises bid to $2.1B for AsarcoDENVER — An Indian mining company is increasing its bid to $2.1 billion as it battles Grupo Mexico for the assets of bankrupt Asarco LLC. Sterlite Industries Ltd.
Sterlite to invest Rs.250 crore for expansionJune 26th, 2009 MUMBAI - Sterlite Technologies, a global provider of transmission solutions for telecom and power companies, Friday said it will invest Rs.250 crore for capacity enhancement in the next two years. The company in a statement said it would double its optical fibre capacity to 12 million-km this fiscal and would take it to 20 million-km in 2011.
Judge gives final approval to GM's use of bankruptcy financingJune 25th, 2009 Judge gives final OK to bankruptcy financingNEW YORK — A bankruptcy judge says GM can have access to its full $33.3 billion in bankruptcy financing. Judge Robert Gerber gave final approval to the financing on Thursday.
Twin River slot parlor seeks Chapter 11 bankruptcy protection under mounting debtsJune 23rd, 2009 RI slot parlor files for bankruptcy protectionPROVIDENCE, R.I. — A Rhode Island slots parlor says it needs 24-hour gambling, millions of dollars for marketing and to end costly greyhound racing to regain profitability.
Mining giant Grupo Mexico offers $2.9 billion for Asarco; tops bid by India's SterliteJune 2nd, 2009 Grupo Mexico offers $2.9 billion for AsarcoDENVER — Grupo Mexico SAB offered $2.9 billion Tuesday to regain control of Arizona-based Asarco LLC and pull it out of bankruptcy protection, topping a bid from India's largest copper producer. The two mining giants are seeking Asarco's assets, including three U.S.
Bankruptcy judge authorizes Visteon to pay critical vendors, other obligationsMay 29th, 2009 Judge approves motions in Visteon bankruptcyWILMINGTON, Del. — A Delaware bankruptcy judge has approved several first-day motions in the Chapter 11 bankruptcy case of automobile parts supplier Visteon Corp.
Federal bankruptcy judge says Credit Suisse loan to Yellowstone Club was predatoryMay 12th, 2009 Judge says loan to Yellowstone Club was predatoryHELENA, Mont. — A federal bankruptcy judge has ruled that a $375 million loan made by Credit Suisse to a Montana resort for the ultrarich was predatory and should be subordinated to other debts.
Sterlite Industries (India) Limited notice of FY 2009 resultsApril 25th, 2009 MUMBAI - Sterlite Industries (India) Limited, India's leading diversified mining and metal company with interests and operations in aluminium, copper, zinc and lead and commercial power, will announce its results for the fourth quarter and full year ended March 31 on April 28. The results will also be available on the company's website, www.sterlite-industries.com.
Bankruptcy judge in Texas says India's Sterlite copper producer can buy AsarcoApril 24th, 2009 Bankruptcy judge says Sterlite can buy AsarcoTUCSON, Ariz. — India's largest copper producer can acquire Tucson, Ariz.-based Asarco LLC for $1.1 billion in cash and a $600 million note, a Texas judge has said.
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