Deal insight

Vedanta to acquire a controlling stake in Cairn India

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Report summary

of 21.7%Vedanta Resources is to acquire a 51% stake in Cairn India from Cairn Energy for US$8.48 billion (subject to change contingent upon the response to a separate offer to other Cairn India shareholders). Under our base case analysis we value a 51% stake in Cairn India at US$4.27 billion (NPV10 as at August 2010). Although this valuation is based on a 2P reserve figure greater than that reported by Cairn India it is nonetheless significantly below the purchase price. The ...

What's included

This report contains

  • Document

    Vedanta to acquire a controlling stake in Cairn India

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Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 8 images and tables including:

Images

  • Upside scenario modelling - production and capex assumptions (net Vedanta*)
  • Wood Mackenzie base case production and capex forecasts (net Vedanta*)

Tables

  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Upsides and risks: Table 1
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Upstream assets: Table 1

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