Malaysia's Petronas Sells Cairn India Shares to Vedanta Firm

摘要

Malaysia's Petronas has offloaded its shares in Cairn India, the acquisition target of London-listed mining group Vedanta Resources. Petronas sold its 14.94% stake in block deals on Tuesday morning, with Vedanta subsidiary Sesa Goa lapping up as much as 10.4%. Indian and foreign institutions bought the remainder. The Malaysian state firm said it sold the holding, of 283.4 million shares in total, for around $2.1 billion. It said Sesa Goa bought 200 million shares at 331 rupees ($7.40) each.