Vedanta Resources Funding Requirement $4.5 Billion For Cairn
Posté: Ven 19 Aoû 2011 20:16Vedanta Resources Funding Requirement $4.5 Billion For Cairn India Buy
LONDON -(Dow Jones)- Vedanta Resources PLC (VED.LN), a diversified metals and mining company announced Friday that it has a funding requirement of $4.5 billion for the acquisition of the 30% stake in Cairn India Ltd (CNE.LN).
MAIN FACTS:
-The $4.5 billion available is in the form of fully committed facilities valid up to December 15, 2011 and internal sources such as repayment of intercompany debt from subsidiaries.
-The size of the Bridge to Equity Facility was originally $1.0 billion.
-Vedanta has permanently reduced this by $730 million and it currently stands at $270 million.
-Vedanta continues to work with Cairn Energy towards the completion of the Transaction.
-Shares at 1357 GMT down 25.0 pence, or 1.9%, at 1270.0 pence.
Copyright © 2011 Dow Jones Newswires
LONDON -(Dow Jones)- Vedanta Resources PLC (VED.LN), a diversified metals and mining company announced Friday that it has a funding requirement of $4.5 billion for the acquisition of the 30% stake in Cairn India Ltd (CNE.LN).
MAIN FACTS:
-The $4.5 billion available is in the form of fully committed facilities valid up to December 15, 2011 and internal sources such as repayment of intercompany debt from subsidiaries.
-The size of the Bridge to Equity Facility was originally $1.0 billion.
-Vedanta has permanently reduced this by $730 million and it currently stands at $270 million.
-Vedanta continues to work with Cairn Energy towards the completion of the Transaction.
-Shares at 1357 GMT down 25.0 pence, or 1.9%, at 1270.0 pence.
Copyright © 2011 Dow Jones Newswires