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Vedanta Eyeing Purchase of 58.5% in Cairn India
Edited by : AL CIRCLE
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LONDON -- U.K.-listed, India-focused Vedanta Resources PLC aims to purchase a 58.5% stake in Cairn India Ltd. following its recent stake purchases in the Indian gas and oil explorer, Vedanta's chief executive said Thursday.
"Under the present situation, having acquired 18.5%" through Vedanta's Sesa Goa Ltd. unit, and taking into account a minimum requirement to purchase a 40% stake in Cairn India from its parent Cairn Energy PLC, "that will bring the total to 58.5%," said M.S. Mehta said in a conference call with journalists.
"Under the present situation, having acquired 18.5%" through Vedanta's Sesa Goa Ltd. unit, and taking into account a minimum requirement to purchase a 40% stake in Cairn India from its parent Cairn Energy PLC, "that will bring the total to 58.5%," said M.S. Mehta said in a conference call with journalists.
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