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Vedanta Resources (VED)

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Thursday 30 June, 2011

Vedanta Resources

Acquisition of controlling stake in Cairn India

RNS Number : 5187J
Vedanta Resources PLC
30 June 2011
 



30 June 2011

 

     Proposed Acquisition of controlling stake in Cairn India Limited

Vedanta Resources plc ("Vedanta") notes the Oil Minister's statement to the media granting approval to Vedanta's proposed acquisition of a controlling interest in Cairn India Ltd. from Cairn Energy plc with certain pre-conditions. Vedanta awaits official intimation of the approval and details of the pre-conditions from the Government of India, in order to consider further course of action.

Vedanta continues to work with Cairn Energy towards the successful completion of the transaction and a further announcement will be made in due course.

 

Investors:

Ashwin Bajaj

Senior Vice President - Investor Relations

Vedanta Resources plc

 

 

ir@vedanta.co.in

Tel: +44 20 7659 4732 / +91 22 6646 1531

Media:

Gordon Simpson

Faeth Birch

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, silver, iron ore and commercial energy. Vedanta has operations in India, Zambia, Namibia, South Africa, Ireland and Australia and a strong organic growth pipeline of projects. With an empowered talent pool of 31,000 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, please 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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