Vedanta Plc, is merging his cash-rich oil and gas company Cairn India. The board of Cairn India and Vedanta Ltd approved the merger on 14th June 2015. As part of scheme minority shareholders of Cairn India will get an equity share in Vedanta Ltd and a redeemable preference share in Vedanta Ltd with a face value of Rs 10 for each equity share held in Cairn India.
The swap ratio implies a premium of 7.3% to Friday’s close of Cairn India at Rs 181.
About Vedanta Plc.
- Vedanta Resources plc is a global diversified metals and mining company
- Headquarters: London
- Founder: Anil Agarwal
- It is the largest mining and non-ferrous metals company in India.
- Its main products are copper, zinc, aluminium, lead, iron ore and petroleum.
- Vedanta is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Cairn India
- Cairn India is an oil and gas exploration and production company, headquartered in Gurgaon, India.
- Headquarters: Gurgaon, India
- Cairn India is one of the largest independent oil and gas exploration and production companies in India.
- Founded: 2007
- CEO: Mayank Ashar
