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Client Work

Vedanta Resources acquires Sterlite Gold

Fasken
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Client

Sterlite Gold

On April 20, 2007, Vedanta Resources plc completed its offer for all of the outstanding common shares of Sterlite Gold Ltd., other than those held by U.S residents, through its wholly-owned subsidiary Twin Star International Limited ("TSI") and periodically extended since the original expiry date of September 30, 2006. A total of 77,377,373 common shares of Sterlite Gold were taken up under the offer, representing, together with common shares already owned by TSI at the commencement of the offer, approximately 84.2% of the outstanding common shares of Sterlite Gold (on a fully-diluted basis). The board of directors of Sterlite Gold earlier appointed a committee of independent directors to review the terms of the proposed offer. The board, on the recommendation of the independent committee, unanimously approved the offer and recommended that shareholders of Sterlite Gold tender their common shares to the offer. John Turner and Krisztian Toth of Fasken Martineau advised the independent committee of Sterlite Gold in this matter.

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