Vedanta's Cairn Acquisition Gets Final India OK - Report
Posté: Mar 24 Jan 2012 18:15Vedanta's Cairn India Acquisition Gets Final India Cabinet OK - Report
Published January 24, 2012
NEW DELHI – India on Tuesday gave its final approval to Vedanta Resources PLC's (VED.LN) acquisition of a majority stake in Cairn India Ltd.(532792.BY) for $8.48 billion, the Press Trust of India reported, citing sources it didn't name.
The Cabinet Committee on Economic Affairs headed by Prime Minister Manmohan Singh has cleared the deal this evening, the report added.
The planned sale of a 40% stake held by Cairn Energy PLC (CNE.LN) in Cairn India to Vedanta was first considered by the cabinet in April last year and was approved in June, with certain conditions, it said.
Cairn and Vedanta have complied with all the conditions and concluded the transaction last month, the report said.
Copyright © 2012 Dow Jones Newswires
Read more: http://www.foxbusiness.com/news/2012/01 ... z1kOQQ0HBf
Published January 24, 2012
NEW DELHI – India on Tuesday gave its final approval to Vedanta Resources PLC's (VED.LN) acquisition of a majority stake in Cairn India Ltd.(532792.BY) for $8.48 billion, the Press Trust of India reported, citing sources it didn't name.
The Cabinet Committee on Economic Affairs headed by Prime Minister Manmohan Singh has cleared the deal this evening, the report added.
The planned sale of a 40% stake held by Cairn Energy PLC (CNE.LN) in Cairn India to Vedanta was first considered by the cabinet in April last year and was approved in June, with certain conditions, it said.
Cairn and Vedanta have complied with all the conditions and concluded the transaction last month, the report said.
Copyright © 2012 Dow Jones Newswires
Read more: http://www.foxbusiness.com/news/2012/01 ... z1kOQQ0HBf