World’s largest integrated metals and mining company ArcelorMittal has finally agreed to acquire London Mining South America (London Mining Brasil) for $810 million.

World’s largest integrated metals and mining company ArcelorMittal has finally agreed to acquire London Mining South America (London Mining Brasil) for $810 million.

Under the proposed deal, ArcelorMittal will acquire 100% of the issued share capital of Brazilian iron ore miner, London Mining South America Ltd from Oslo Stock Exchange-listed London Mining Plc for about $764 million.

Behind this, the transaction also includes the assignment of inter-group loans from London Mining of about $46 million, taking the total consideration payable to London Mining to $810 million.

Infrastructure giant GMR Infrastructure Limited has informed that GMR Hyderabad International Airport Ltd (GHIAL) has finally received approval from union ministry to levy UDF (User Development Fee) from all outbound passengers at the rate of Rs 375/- per head.

The levy will be in addition to the passenger service fee (PSF) of Rs 225 that passengers pay for security and airport infrastructure.

GHIAL is a subsidiary of the GMR Infrastructure and developer and operator of the Rajiv Gandhi International Airport (RGIA)

Kolkata-based Visa Steel Limited, a subsidiary of Visa Minmetal AG, has informed that it has entered into a Memorandum of Understanding (MoU) with the Government of Chhattisgarh.

Mahindra and Mahindra Financial Services (Mahindra Finance), a non-banking finance arm of USD 6.7 billion Mahindra Group, has got into an understanding with car makers General Motors and Hyundai to provide finance for their vehicles in the rural and semi-urban markets.

The latest move corresponds with the automakers’ plans to strengthen their presence in the rural markets, where Mahindra Finance has a fairly large network.

Reliance Big TV has launched its Direct-to-Home (DTH) services on Tuesday.

Reliance Big TV is a wholly owned subsidiary of Reliance Communications, which has now entered in the home entertainment field.

The service would be available on the latest MPEG4 Direct-to-Home (DTH) platform with high picture quality.

Available in 6,500 towns, the DTH service will initially broadcast over 200 channels with digital quality picture and sound.