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Mergers & Acquisitions | 25 September 2012

Cairn Energy To Sell Cairn India Shares

by Vivek Singh
 
@vivek

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.

Credit Suisse Buys Stake In HDIL

Credit Suisse bought around 0.60% stake in Housing Development and Infrastructure Limited (HDIL) through bulk deal on NSE.

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FreeCharge Secures Series B Funding

Freecharge, an online platform for recharge, utility payments, promotions and couponing, has raised $33 Mn (c.INR 2,000 Mn) from existing investor Sequoia Capital India along with new investors Belgium-based investment firm Sofina and Russian Internet and technology investor ru-Net. The Series B infusion will be taken to build up its transactional advertising offerings.

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