In an Article named “ Institutional Investor Advisory Services India & InGovern differ over Sesa Goa-Sterlite merger proposal” in Economic Times on 6th June 2012, InGovern was quoted as follows:
InGovern is an advisory firm which provides participants in the Indian market with independent opinions, research and data on corporate governance issues.
Shriram Subramanian, founder and managing director, InGovern Research Services says that the entire transaction gives a cleaner structure with a well-diversified portfolio of minerals and mining assets. “We advise shareholders of Sesa Goa and Sterlite Industries to vote for the amalgamation.”
But he added as a rider that shareholders of both the companies will have to weigh the risks associated with allegations of human rights violations, environmental risks with Vedanta Aluminium before voting for the proposal.
“Also, the swap ratio seems to be tilted in favour of Sterlite shareholders,” he said. The court convened meeting slated on June 19 and June 21 for Sesa Goa and Sterlite, respectively, is expected to see some action.
The full article can be downloaded from here: Economic Times – 6th June 2012