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This is an archive article published on April 19, 2011

Vedanta buys 11 pct in Cairn India

Vedanta bought the 11 pct stake in Cairn India from Petronas at Rs 331 a share.

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Vedanta Plc has bought 11 per cent stake in Cairn India through block market deals,a source with direct knowledge of the matter said on Tuesday.

Cairn Energy agreed in August to sell a majority stake in Cairn India to Vedanta,but the deal has been delayed due to a dispute over royalty payments by Cairn India’s partner,state-run Oil and Natural Gas Corp.

Vedanta bought the 11 per cent stake in Cairn India from Malaysia’s national oil corporation Petronas at Rs 331 a share,the source said.

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