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Vedanta Resources (VED)

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Wednesday 06 April, 2011

Vedanta Resources

Receipt of SEBI approval for the open offer

RNS Number : 3900E
Vedanta Resources PLC
06 April 2011
 



6 April 2011   

 

Vedanta Resources Plc

 Announcement of receipt of SEBI approval for the open offer by Sesa Goa

 

Vedanta Resources plc's subsidiary, Sesa Goa Ltd ("Sesa") has announced receipt of clearance from SEBI to send letters of offer to shareholders of Cairn India Ltd ("Cairn India") and proceed with the open offer of up to 20% of the shares of Cairn India. Sesa is required to launch the open offer by 11 April 2011 at a price of INR 355 per Cairn India share. The acquisition of 51%-60% of Cairn India by Vedanta Group remains conditional on receipt of Government of India consents. Further announcements will be made in due course.

 

For further information, please contact:

 

Ashwin Bajaj

Senior Vice President - Investor Relations

Vedanta Resources plc

 

ir@vedanta.co.in

+ 91 22 6646 1531

 

Gordon Simpson

Finsbury

 

 

Tel:  +44 20 7251 3801

 

About Vedanta Resources plc

Vedanta Resources plc ("Vedanta") is a London listed FTSE 100 diversified metals and mining major. The group produces aluminium, copper, zinc, lead, iron ore and commercial energy. Vedanta has operations in India, Zambia and Australia and a strong organic growth pipeline of projects. With an empowered talent pool of 29,000 employees globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of entrepreneurship, excellence, trust, inclusiveness and growth. For more information visit www.vedantaresources.com

 

Disclaimer

This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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