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Tuesday, August 17, 2010
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MERGERS & ACQUISITIONS: Vedanta to pay $9.6 billion for control of Cairn India
To take 60% — up to 51% from UK parent at Rs 405/share; open offer at Rs 355. Mr Anil Agarwal's Vedanta Group will take a majority stake in Cairn India for up to $9.6 billion, leaving Edinburgh-based Cairn Energy with up to 10 per cent ...

INTERVIEW: Cairn deal via Mauritius SPV, says Anil Agarwal
As he gears himself to enter a new territory, Mr Anil Agarwal, Chairman of Vedanta Resources, was in an upbeat mood as he spoke to Business Line about the company’s decision to acquire Cairn Energy Plc’s stake in ...

MERGERS & ACQUISITIONS: Vedanta-Cairn deal: Tax Dept hopes to collect a tidy sum
The Finance Ministry is hopeful of collecting a tidy sum as capital gains tax from the Vedanta-Cairn Energy Plc deal announced today in London. The deal involves part sale of Cairn Energy Plc's shareholding in Cairn India to the ...

MERGERS & ACQUISITIONS: Cairn Energy reaps a windfall
This is what the oil exploration business is all about. Back in 2002, a little known Scottish oil explorer called Cairn Energy plc made a risky bet on an oilfield in Rajasthan, given up as useless by none less than Shell. In a matter of ...

MERGERS & ACQUISITIONS: Lower offer price, limited scope dampen Cairn
The devil was probably in the detail. The Vedanta Resources-Cairn Energy Plc deal, which envisages Vedanta gaining majority control of Cairn India, saw the latter's stock decline 6.36 per cent to around Rs 333 in Monday's trade. Among the ...

MERGERS & ACQUISITIONS: Vedanta to fund Cairn buyout with debt, cash
The Vedanta group plans to fund the $8.5/9.6-billion required to acquire 51 to 60 per cent in Cairn India through a mix of debt and cash accruals. The Edinburgh-based Cairn Energy holds 62.4 per cent in ...

OUTLOOK: Cairn Energy not to invest stake sale proceeds in India
Cairn Energy PLc has no plans to invest the money it receives from Vedanta Resources (for divesting between 51and 60 per cent of its stake in Cairn India Ltd) ...

MERGERS & ACQUISITIONS: Sesa Goa plummets on Vedanta's move
Needs cash to bankroll its own expansion plans. Parent Vedanta Resources' move to use iron ore miner Sesa Goa to purchase a 20 per cent stake in Cairn India sent the Sesa Goa stock plummeting 8.9 per cent ...

NEW PROJECTS: Panel against nod to Vedanta's Niyamgiri project
Forest Advisory Council to look into the report on Aug 20. The four-member N.C. Saxena Committee, appointed by the Environment Ministry, said an approval to Vedanta Alumina's bauxite mining project will have serious consequences for the tribals ...

RESEARCH & DEVELOPMENT: Apollo Hospitals turns focus on stem cell research, personalised medicine
Why do heart ailments or coronary artery diseases (CAD) hit Indians nearly 10 years earlier than other people in ...

REGULATORY BODIES & RULINGS: Cairn yet to inform Govt about stake sale: DGH
The Government is yet to receive any proposal on the proposed stake sale of Cairn Energy Plc in Cairn India in favour of Vedanta Resources. The production sharing contract (PSC) requires that the operating entity gets Government approval for ...

MERGERS & ACQUISITIONS: Maytas Infra awaits nod to appoint SBG directors
Maytas Infra Ltd today said that it has applied to the Company Law Board (CLB) for approval to appoint nominees of the Saudi BinLadin Group (SBG) as directors of the company, by virtue of latter's investment of Rs 301 crore for 20 per cent ...

SOCIETY & DEVELOPMENT: Amul scales up tree-planting drive in Gujarat
Amul celebrated the 64th Independence Day in a novel manner: its 29 lakh members planted one crore saplings on a single day! In the last four years, Amul has planted more than 2.55 crore saplings across ...

RESEARCH & DEVELOPMENT: Multi-pronged research

HUMAN RESOURCES: Guiding the youth

PERFORMANCE: Tata Motors' global sales rise 36%
Tata Motors' group global sales grew 36 per cent in July at 90,646 units. Passenger vehicles accounted for 50,070 units (up 42 per cent) and commercial vehicles took up the balance 40,576 units (30 ...

NEW BUSINESS: Siemens bags SAIL order worth €10 m
Siemens VAI Metals Technologies has received a €10-million order from Steel Authority of India (SAIL) for supply of a vacuum degassing plant to the Rourkela ...

Columnists: C Gopinath Harish Bijoor Ramanujam Sridhar Radhika Chada K Srikrishna

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Markets (Aug 16)
Nifty (at close)5,418.30(-33.8)
US Dollar(Buy/Sell)46.80/81
Brent crude (a bbl) Rs3,518
Gold (a gram) Rs1,736
Silver (a kg) Rs29,860

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