Vedanta gets control of Cairn India
Vedanta Resources, London, has completed all conditions for its acquisition of a controlling interest in Cairn India Ltd., reports parent Cairn Energy PLC, Edinburgh, (OGJ Online, Oct. 20, 2011).
Cairn Energy retains a 22% interest in the Indian company. The acquisition value was estimated at $9.6 billion when Vedanta made the offer for as much as 60% of the company in 2010. Completion of the deal was delayed by a royalty dispute.