Saturday, August 21, 2010

Vedanta to get Rs 500 cr if Cairn buyout fails - Oil & Gas - Energy - News By Industry - News - The Economic Times

Vedanta Group, pursuing a $9.6 billion takeover of Cairn India, will get an estimated windfall of Rs 500 crore if the target firm's Scottish promoters fail to get shareholders' nod for the deal or solicit a rival bid.
Meanwhile The government has asked Cairn Energy Plc to submit details of its deal to sell its majority stake in the company that operates the giant Rajasthan oilfields, to London-listed Vedanta Resources, Oil Minister Murli Deora said today.

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