Investment in Cairn India
Cairn retains a ~10% investment in Cairn India Limited which is listed on the Bombay Stock Exchange and the National Stock Exchange of India. Cairn India has interests in India, Sri Lanka and South Africa.
Overview
Cairn has been operating in India since 1996. In 2007 Cairn listed the Indian part of its business, Cairn India Limited, on the National and Bombay Stock Exchanges of India raising US$2 billion and retaining a 69% holding.
In 2011 Cairn sold 40% of its holding in Cairn India Limited to Vedanta Resources plc, a global natural resources company, for approximately US$5.5 billion, retaining a 22% holding.
In 2012 Cairn sold an aggregate 11.5% holding in Cairn India Limited for a net cash consideration of ~US$1.3bn, retaining a ~10% shareholding.
© Cairn Energy PLC 2013