Cairn Energy selling 8% stake in Cairn India
Cairn Energy is selling an 8% stake in Cairn India for up to $940 million, a source with direct knowledge of the matter said, in a second such deal in three months to pare holding in its former Indian unit.
Vedanta Resources, the London-listed Indian mining group, is to take a majority stake in Cairn India for up to $9.6bn in cash in a deal that would give it control of one of India's biggest onshore energy assets.