Cairn Energy To Sell Cairn India Shares
Cairn UK Holdings Limited, a unit of Cairn Energy is looking to sell 152.63 Mn Cairn India shares in a price range of R317.90 to R328.30 per share raising around $922Mn, according to WSJ.
This June, Cairn Energy raised $360 Mn by selling around 3.5% stake in Cairn India reducing its stake to 18.28%.
Last December, it completed its sale of a 58.5% stake in Cairn India to Vedanta Resources PLC and the mining company's units for $8.67 Bn.
Last month, Cairn Energy bought stake in Foum Draa block in Morocco for $60 Mn, and farm-in as an operator.
Cairn India On BSE
Recently, Cairn India bought its first asset in a deep-sea gas discovery block on the west coast of South Africa.
The company bought 60% stake in the 19922 sq.km Block 1 in Orange Basin and has signed a farm-in agreement with South African national oil firm Petroleum Oil and Gas Corporation of South Africa Ltd (PetroSA).
To Read More.
In the space, Tata Petrodyne was considering buying Al Hayat group’s oil assets in Bahrain.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 25/09/12 | Cairn India - Cairn Energy (Part Exit) | M&A | - | 933.08 |
| 29/06/12 | Cairn India - Cairn Energy (Part Exit) | Private Equity | Looking For | 370.00 |
| 13/07/11 | Cairn India - Vedanta Resources (Tranche 1) | M&A | Sesa Goa Limited | 1527.96 |
| 27/06/11 | Cairn India - Vedanta Resources (Tranche 2) | M&A | Sesa Goa Limited | - |
| 05/05/11 | Cairn India - Vedanta Resources (Open Offer) | M&A | Sesa Goa Limited | 1234.57 |
| 19/04/11 | Petronas - Cairn India - Vedanta Resources | M&A | Vedanta Resources plc | 1481.65 |
| 19/04/11 | Cairn India - Petronas (Exit) | M&A | - | 618.23 |
| 14/10/09 | Cairn India - Petroliam Nasional Berhad | M&A | Petroliam Nasional Berhad | 250.00 |
| 17/03/08 | Cairn India - Petroliam Nasional Berhad, | Private Equity | Petroliam Nasional Berhad | 625.00 |
| 15/12/06 | Cairn India Limited - IPO | IPO / Offerings | - | 1177.96 |
| 03/10/06 | Cairn India - International Finance Corp. | Private Equity | International Finance Corporation | 45.00 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 15/04/13 | M&A | Itochu Corporation | Gujarat State Petroleum Corporation Limited | - | Planned |
| 09/04/13 | M&A | Dabbagh Group | Petromin Corporation | - | Planned |
| 02/03/13 | IPO / Offerings | GSPC Gas Company Limited | Gujarat Gas Company Limited | 64.27 | Completed |
| 01/02/13 | M&A | ONGC Videsh Limited | Rovuma-1 | - | Planned |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Cairn India Limited | Cairn Energy Plc | 101, West View, Veer Savarkar, Marg. |
Oil & Natural Gas Corporation Limited Oil India Limited Reliance Industries Limited Essar Oil Limited Interlink Petroleum Limited |
http://www.cairnindia.com |
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