Part sale of Shareholding in Cairn India to Vedanta

abarrelfullabarrelfull wrote on 07 Dec 2011 06:40
Tags: cairn deals india vedanta

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Vedanta has confirmed that it has now satisfied the conditions under the Sale and Purchase Agreement for the acquisition of a controlling shareholding in Cairn India.

As previously announced, Cairn intends to return a substantial proportion of the proceeds from the sale to shareholders. A further announcement in this respect will be made in due course.

Cairn will now retain an approximate 22 per cent shareholding in Cairn India.

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