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Sterlite acquires 26% stake in HZL, Kaura named MD

Sterlite Industries on Thursday completed its acquisition of 26 per cent stake in Hindustan Zinc Ltd and appointed K K Kaura as the new managing director.

The Sterlite group handed over a cheque of Rs 4.45 billion to the government after which the newly constituted board of directors met for the first time under the chairmanship of A K Kundra who is secretary (mines).

The new board comprise 11 members including the Sterlite group chairman Anil Aggarwal, C V Krishanan who is chief executive of metals business, Tarun Jain, director (finance) and C A Sundaram.

The government nominees include S P Gupta (joint secretary), S Behuria (joint secretary and financial advisor) and A C Wadhawan, former chairman of HZL.

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