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Home / News / Business News / Cairn India set to merge with Vedanta
  • Business

    Cairn India set to merge with Vedanta

    Sripriya Yegneswaran
    Written by
    Sripriya Yegneswaran
    Mail
    Last updated on Jun 15, 2015, 08:50 am
    Cairn India set to merge with Vedanta
  • After receiving approval from the respective directors, oil subsidiary Cairn India is set to merge with its parent company-Vedanta Ltd.

    The merger will be an all-share swap deal of $2.7 billion and is expected to ease Vedanta's debt.

    Anil Agarwal, head of Vedanta group said, "The merger consolidates our position as India's leading diversified natural resources champion, uniquely positioned to support India's economic growth."

  • In this article
    Vedanta acquires 58.5% in Cairn India What does the Vedanta Group do? Cairn India offers loan to Vedanta Anil Agarwal plans to merge Cairn, Hindustan Zinc. Cairn, Vedanta boards meet to discuss merger proposal Cairn India set to merge with Vedanta
  • 8 Dec 2011

    Vedanta acquires 58.5% in Cairn India

    Vedanta acquires 58.5% in Cairn India
  • After 16 months of the deal's announcement, Vedanta Resources completed the acquisition of its controlling stake in Cairn India.

    Vedanta group had acquired 58.5% stake in Cairn India for $8.67 billion. This meant, Vedanta Resources Plc held 38.5% in Cairn India, while its subsidiary, Sesa Goa Ltd, held 20%.

    The deal marked Vedanta's entry into the oil and gas sector in India.

  • Information

    What does the Vedanta Group do?

  • Vedanta Group is a globally diversified natural resources company with interests in zinc, lead, silver, copper, iron ore, aluminium, power and oil & gas. It was founded by Anil Agarwal in 1979.

  • 25 Jul 2014

    Cairn India offers loan to Vedanta

    Cairn India offers loan to Vedanta
  • Cairn India loaned $1.25 billion to the debt laden Vedanta group. The loan disclosure came after analysts raised questions on cash reserves and this led to a drop in stocks.

    Though the loan had raised concerns among the investors, the transaction was said to have met the latest Companies Act guidelines.

    Cairn had refused to disclose when the board decided to extend the loan.

  • 12 Jan 2015

    Anil Agarwal plans to merge Cairn, Hindustan Zinc.

    Anil Agarwal  plans to merge Cairn, Hindustan Zinc.
  • Anil Agarwal said that consultants have been appointed to explore if it made sense to merge Cairn India and Hindustan Zinc into Sesa Sterlite. He said that they were open for the merger if the recommendation comes.

    Sesa Sterlite has been in debt while Cairn and Hindustan Zinc have been cash generating units. Vedanta's Sesa holds a controlling stake in both of the firms.

  • 13 Jun 2015

    Cairn, Vedanta boards meet to discuss merger proposal

    Cairn, Vedanta boards meet to discuss merger proposal
    Credits:
  • The boards of Cairn India and Vedanta Ltd will meet to discuss the potential merger of the oil company with Vedanta.

    Vedanta was considering merging Cairn, partly to resolve the debt it has been in.

    Oil Minister Dharmendra Pradhan had met Cairn executives to discuss the possible merger and according to a source, the deal could be announced after the companies' board meeting.

  • 15 Jun 2015

    Cairn India set to merge with Vedanta

    Cairn India set to merge with Vedanta
  • After receiving approval from the respective directors, oil subsidiary Cairn India is set to merge with its parent company-Vedanta Ltd.

    The merger will be an all-share swap deal of $2.7 billion and is expected to ease Vedanta's debt.

    Anil Agarwal, head of Vedanta group said, "The merger consolidates our position as India's leading diversified natural resources champion, uniquely positioned to support India's economic growth."

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