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Mergers & Acquisitions | 17 August 2012

South African Gas Block Acquired By Cairn India

by Paritosh Gajjar
 
@Paritosh
@Cairn_India_L Limited ventured out of India and bought its first asset in a deep-sea gas discovery block on the west coast of South Africa.

The company bought 60% stake in the 19922 sq.km Block 1 in Orange Basin and has signed a farm-in agreement with South African national oil firm Petroleum Oil and Gas Corporation of South Africa Ltd (PetroSA).

ONGC To Rope In Japan's Inpex in KG Block

ONGC is planning to sell 26% stake in its KG-DWN-2004/6 block in the KG - basin to Japanese Inpex Corporation, according to BS. Inpex Corporation being a global player will provide technological support for exploration and drilling of blocks.

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Snapdeal Buys Product Discovery Portal Doozton

Jasper Infotech owned Snapdeal has acquired a year old bootstrapped fashion & lifestyle product discovery site Doozton for an undisclosed amount. With the acquisition Snapdeal seeks to provide a personalized way of listing and suggesting fashion merchandise on its ecommerce portal.

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