Vedanta Resources Plc will acquire 51% stake worth around USD 8-8.5 billion in UK-based Cairn Energy’s Indian entity. CNBC-TV18 learns that the negotiations have concluded and Cairn has agreed to sell part stake in its Indian unit. This signalling a strategic shift by mining company Vedanta into oil and gas.
However, Petronas, which holds almost 15% in Cairn India, is unlikely to sell its stake to the Anil Agarwal company.
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