Sesa Goa, a Vedanta group company, has acquired the Goa-based Iron ore mining company, Dempo Mining, in an all-cash deal of Rs 1,750 crore (including working Capital of Rs 145 crore). The company expects to fund the acquisition cost of Rs 1,750 crore entirely through the cash in its books. Notably, Sesa had substantial cash and equivalents of Rs 4,143 crore at the end of FY2009.
I bought share for Rs.203 & sold for Rs.210 on same day and earnt profit of approx. Rs. 5.5 after deduction of charges.
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