PETRONAS sells its 14.94% stake in Cairn India to Vedanta (10.4%) and private investors (4.54%)
PETRONAS has announced the divestment of its 14.94% stake in Cairn India for a total sale price of US$2.1 billion. The majority, a 10.4% stake, has been acquired by Sesa Goa, a subsidiary of Vedanta Resources. The sale is a separate transaction from Vedanta's proposed acquisition of a controlling stake in Cairn India from Cairn Energy, but will have implications for the wider move. Pending the exact outcome of its deal with Cairn Energy, Vedanta will now ultimately control between ...