April 19 (Bloomberg) - Sesa Goa Ltd., a unit of Vedanta Resources Plc, bought a set of 11 percent in Cairn India Ltd. under an agreement valued at 93.5 billion rupees ($2.1 billion), two people familiar with the transaction said.
Petroliam Nasional Bhd., the Malaysia, oil and gas-producing State, has given its full participation by 14.9% in India of Cairn, the people said, refusing to be identified before the official announcement. Indian and foreign institutions bought the game of 3.9% of Petronas, said the people.Cairn in India, the target of a resumption of 9.6 billion by Vedanta listed in London, had approximately 282,3 million shares change hands in three operations today. A total of 277.27 million shares were traded to 331 rupees each of two agreements of block on the stock market in Bombay and hands modified 5.07 million to each 335 rupees, according to data compiled by Bloomberg.Sesa Goa on April 11, offered 355 rupees each to the minority shareholders of the Cairn India a plan by its mining company from parent to support the browser and obtain access to the largest deposit of oil India on Earth farm. The agreement is pending approval of the Government of India.Cairn India has increased as much as 3% of RS 346.15 and was to 344.20 rupees at 10: 54 pm in trade in Mumbai, while Sesa Goa won 0.9% to 308 rupees. Cairn India increased by 3.6% this year compared to a decline of 6.5% of the ProposalVedanta of Index.Vedanta sensitive benchmark, controlled by billionaire Chairman Anil Agarwal, has no previous experience in the production of oil and gas and is looking to buy a 51 per cent to 60 per cent of Cairn India 9.6 for billion, the miner said August 16. Cairn Energy Plc, shareholder of the Cairn India, will sell 40 to 51% of its portfolio to Vedanta, depending on the outcome of the open offer, which is scheduled to end April 30, Sesa Goa offers to buy shares in Cairn India to 355 rupees eachWhile Vedanta offers pay Cairn Energy 405 rupees per share, including charges branding of 50 rupees.Bank of America Corp. has helped sell the shares held by Petronas, said the people. Spokesman for the Bank of America Mona Kwatra and Manu Kapoor, a spokesman for Cairn in India, refused to comment on.Vedanta Pavan Kaushik spokesperson responded not six calls to his cell phone. AzMan Ibrahim, a Petronas spokesman, said that it was not immediately able to comment.Petronas acquired a stake of 10% in India of Cairn to 176.48 rupees per share before the initial public offer of Explorer December 2006. The Malaysian company purchased an additional game each 224.30 rupees in a preferential allocation in March 2008 and paid about $ 240 million for additional participation from 2.3% in India Cairn in October 2009, taking his total of 14.9%.Shamsul Azhar Abbas ordered a review of global investment of Petronas after the portfolio in charge as CEO in February 2010. It is therefore group can invest more funds in the home to reconstruct the country's oil and gas reserves, Shamsul said in an interview by e-mail on 8 November.-With the help of George Smith Alexander in Mumbai. Editors: John Chacko, Ryan Woo
To contact the reporters on this story: Ruth David in Mumbai to rdavid9@bloomberg.net; Rakteem Katakey in New Delhi to rkatakey@bloomberg.net
To contact the editor responsible for this story: Amit Prakash to aprakash1@bloomberg.net
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