Deals
Vedanta Said to Seek Cairn India Stake, May Offer $8.5 Billion
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Vedanta Resources Plc, controlled by billionaire Anil Agarwal, may offer about $8.5 billion to buy a majority stake in Cairn Energy Plc’s Indian unit, according to a person with knowledge of the matter.
Vedanta is in advanced talks to acquire more than 50 percent of Cairn India Ltd., which would retain its management in the event of a deal, said two people who declined to be identified because the talks are private. Cairn India, 62 percent held by Edinburgh-based Cairn Energy and listed in Mumbai, is valued at $14.4 billion.