Vedanta Resources PLC said it acquired a 51% stake in India's biggest private-sector iron-ore producer and exporter, Sesa Goa Ltd., as it seeks to diversify and tap into the strong demand for iron ore in China.
Vedanta, a metals and mining company listed and based in London but which has the bulk of its assets in India, acquired the stake from Japan's Mitsui & Co. It paid $981 million.