Sunder’s List

The biggest news over the weekend was the merger between Sterlite and Sesa Goa. Sesa Goa will issue three shares for every five Sterlite shares to create a new company with share listings in India and New York. Vedanta owns about 55% of Sesa Goa and about a 58% direct and indirect stake in Sterlite. Following the completion of the merger, Vedanta will own 58.3% of Sesa Sterlite.The deal is forecast to reduce Vedanta’s debt to $3.75 billion from about $9.65 billion after Vedanta transfers $5.9 billion in debt accrued from the Cairn India purchase to Sesa Sterlite. (WSJ)

Across Asia, from Bangladesh to the Philippines, the drive for more coal-fired power seems unstoppable. (Economist)

How financial innovation happens. (Economist)

Obama takes care of his own? How government subsidized loans help mega-corporations (BI)

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