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Vedanta Cairn Merger News
Vedanta Cairn Merger
India not to sell Cairn Energy shares to recover tax
Sun, Nov 19, 2017
Cairn Energy holds 4.95% stake in Vedanta Ltd that the income tax department had attached in January 2014 after slapping the British firm with a Rs 10,247-crore tax demand over a decade-old internal reorganisation of Indian business.
Vedanta announces Rs 6,580 crore dividend payout
Thu, Mar 30, 2017
The board of directors of the company have also approved the second interim dividend of Rs 17.70 per equity share i.E. 1,770 per cent on face value of Re1 per share for the financial year 2016-17, the company said.
RBI approval left for Cairn-Vedanta merger; shares gain
Tue, Mar 28, 2017
Cairn, in a BSE filing on Tuesday said, "The company has now received all the required approvals in relation to the scheme of arrangement between Vedanta Limited and Cairn India and their respective shareholders and creditors ('Scheme'), save and except the approval of RBI for issuance of redeemable preference shares to the non-resident shareholders of Cairn India."
Shares of Vedanta and Cairn India gains after receiving NCLT nod on merger
Thu, Mar 23, 2017
Vedanta in a BSE filing said, “The National Company Law Tribunal has approved the scheme of arrangement between Vedanta and Cairn India, and their respective shareholders and creditors ('Scheme').
Vedanta to invest $10 billion on expanding business
Sun, Feb 19, 2017
"We have the potential to spend $10 billion over a period of five years; we are looking at 3,50,000 barrel of oil... To have 100,000 barrel equivalent to gas. We are looking to integrate 3 million tonnes capacity for the aluminium," the mining baron told PTI in a telephonic interview.
Vedanta net leaps 353% in Q3 FY17 to Rs 1,866 crore
Tue, Feb 14, 2017
Tom Albanese, Chief Executive Officer, Vedanta Limited, said: “Volume ramp-up and cost efficiency across our operations, aided by higher commodity prices, have significantly driven up EBITDA y-o-y. Our financial position remains robust and we continue to strengthen our balance sheet by maximising free cash flow and reducing debt."
Cairn India shareholders approve merger with Vedanta
Mon, Sep 12, 2016
The Bombay High Court had passed an order in July asking the company to have a meeting of equity shareholders with regards to the decision to merge Cairn India with Vedanta.
Vedanta rises, Cairn India drops as investors give thumbs-up to merger
Wed, Sep 07, 2016
On July 22, both the companies had revised the terms and conditions of the deal considering the prevailing equity market conditions that time.
Vedanta-Cairn merger gets shareholders nod
Tue, Sep 06, 2016
It said in the statement,"Vedanta Resources plc announces that at its General Meeting held today, Tuesday 6 September, the resolution put to shareholders in relation to the proposed merger of Vedanta Limited and Cairn India Limited (the "Merger") was duly passed on a poll."
Vedanta Resources aims to close merger with Cairn India in early 2017
Sat, Aug 06, 2016
The deal, which will give Vedanta access to oil and gas explorer Cairn India`s $3.5 billion cash pile, has faced opposition from some big minority shareholders, including British-based Cairn Energy, but Albanese said he did not foresee obstacles.
Vedanta-Cairn India merger: Is it really a sweet deal?
Tue, Jul 26, 2016
Minority shareholder will be implied to a premium of 20% to one month Volume-Weighted Average Price (VWAP) of Cairn India share price.
Vedanta sweetens Cairn merger deal; makes 1+4 offer for shareholders
Sat, Jul 23, 2016
In an attempt to salvage the merger of cash-rich oil firm Cairn India with its debt-laden parent Vedanta Ltd, the company on Friday sweetened the deal by offering three additional preference shares in hope of winning over minority shareholders like Life Insurance Corporation of India (LIC).