Scribd Logo
Upload

Welcome to Scribd!

  • Merger

    Uploaded by

    ank_150cc1232
    8 views1 page
    India-focused mining firmvedanta resources plc said it will acquire a majority stake of 51-60 percent of Cairn India for about $8.5-9.6billion in cash to be funded with debt and cash. If able to get offers for entire 20 per cent then Cairn Energy will restrict sale of its share to 40 per cent (at USD 6.651 billion) but will scale up its share sale up to 51 per cent if the issue is not fully subscribed.

    Original Description:

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    India-focused mining firmvedanta resources plc said it will acquire a majority stake of 51-60 percent of Cairn India for about $8.5-9.6billion in cash to be funded with debt and cash. If able to get offers for entire 20 per cent then Cairn Energy will restrict sale of its share to 40 per cent (at USD 6.651 billion) but will scale up its share sale up to 51 per cent if the issue is not fully subscribed.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    8 views1 page

    Merger

    Uploaded by

    ank_150cc1232
    India-focused mining firmvedanta resources plc said it will acquire a majority stake of 51-60 percent of Cairn India for about $8.5-9.6billion in cash to be funded with debt and cash. If able to get offers for entire 20 per cent then Cairn Energy will restrict sale of its share to 40 per cent (at USD 6.651 billion) but will scale up its share sale up to 51 per cent if the issue is not fully subscribed.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    India-focused mining firm Vedanta Resources Plc (VED.

    L) said it will acquire a majority stake of 51-60 percent of Cairn India (CAIL.BO) for about $8.5-9.6billion in cash to be funded with debt and cash. Vedanta will make an about $3 billion open offer toCairn India shareholders at Rs 355 per share forup to 20 per cent additional stake. If Vedanta is able to get offers for entire 20 per cent then Cairn Energy will restrict sale of its share to 40 per cent (at USD 6.651 billion) but will scale up its share sale up to 51 per cent if the issue is not fully subscribed. Vedanta Resources Plc will acquire 31 to 40 per cent interest in Cairn India while the remaining 20 per cent would be taken by group firm Sesa Group. For the zinc, copper and iron ore mining firm Vedanta, this will be maiden foray into the lucrative oil business by getting hold of Cairn Indias Mangala oilfields in Rajasthan that are currently producing 125,000 barrels per day and have potential to go up to 150,000 bpd. Run by billionaire Anil Agarwal, 57, the group has already sought to expand into power generation.

    http://www.scribd.com/doc/37756165/Vedanta-Cairns-India-Deal

    You might also like