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Vedanta buys 5% stake in Cairn India to up stake
short by Jatan Desai / on Wednesday, 3 June, 2015
Vedanta Ltd has acquired an additional 4.98% stake in Cairn India for around Rs 2,060 crore, the company said. Vedanta acquired additional 9.34 crore equity shares of Cairn India through an off-market transaction from promoter group entity Twin Star Mauritius Holdings Ltd at a price of Rs 220.40 a share. Post the acquisition, Vedanta's stake in Cairn stands at 23.71%.
read more at Economic Times