Vedanta swoops in for control of Cairn India

摘要

London-London-listed metals group Vedanta Resources has agreed to acquire up to 60% of Cairn India for as much as $9.6 billion, giving it control of a major onshore oil development in northwest India. UK-based Cairn Energy, which holds a 62.37% interest in the Mumbai-listed Cairn India, said it would sell up to a 51% stake in its subsidiary to Vedanta for $8.5 billion based on a price of $8.66/share (Rupees 405).