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04/25/2011
GENERAL INTEREST — Quick TakesVedanta to buy stake in Cairn IndiaVedanta Resources PCL, which is trying to acquire a majority stake in Cairn India Ltd., bought 10.4% interest from Petronas, the company reported Apr. 19.Vedanta said its subsidiary, Sesa Goa Ltd., bought 200 million Cairn India shares for $1.5 billion, or $7.44/share. Petronas said it sold its entire 14.9% interest in Cairn India for $2.1 billion, but Petronas did not release the names of the buyers.On Aug. 16, 2010, Vedanta offered to acquire a controlling interest in Cairn India from Cairn Energy PLC and minority shareholders at an estimated cost of up to $9.6 million.India's government has yet to approve the offer ...
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