Sesa Goa surges 7% post-acquisition of V S Dempo

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Mumbai: Sesa Goa, a group company of global metal giant Vedanta Resources, today surged nearly seven per cent on the Bombay Stock Exchange, a day after the company announced the acquisition of V S Dempo & Company's mining assets in Goa in an all-cash deal of Rs 1,750 crore.

Shares of Sesa Goa jumped 6.97 per cent to touch a high of Rs 205.50 on the BSE. It was later trading at Rs 204.80, up 6.61 per cent.

On the National Stock Exchange, the company surged 17.56 per cent to a high of Rs 225.90. It was later quoting at Rs 204.20, up 6.27 per cent.

Sesa Goa signed a definitive share-purchase agreement with V S Dempo & Company to acquire the company's mining assets.

Post-acquisition, Sesa Goa would have the ownership right of Dempo Group's mining assets and related infrastructure, like processing plants, barges, jetties, transhippers and loading capacities at Mormugoa port.