Cairn Energy plc is planning to sell 51% of its Indian division (Cairn India) to Vedanta Resources.
News in that Vedanta Resources plc and Cairn Energy plc have agreed to extend the corporate action concerning the acquisition of a stake in Cairn India.
The extension is to allow more time to receive the required consents and approvals needed from the Government of India to allow this takeover to go ahead as planned.
The full deal was announced in April when Cairn Energy plc revealed plans to sell a 40% stake in Cairn India Limited to Vedanta Resources Plc for $6.8 Billion.
This deadline has been extended a few times already. Learn more about corporate actions and how they a processed, what they mean and how to interpret the press releases issued by companies involved in corporate action over at SHP.