Cairn Vedanta Merger

Vedanta Ltd will benefit from improved cash flow fungibility, given its high debt and significant short-term borrowings, according to S&P.

In July last year, Vedanta had sweetened its merger proposal to win over minority shareholders.

The approvals include transfer of stake of Cairn India in fields like the Rajasthan oilfield and Ravva oil and gas fields in Krishna Godavari basin to Vedanta Ltd.

Last month, Cairn India shareholders approved merger of the company after LIC and Cairn Energy PLC of the UK voted in favour of the sweetened merger ratio.

Rating agencies S&P and Moody's have upgraded Vedanta Resources after Cairn India shareholders cleared the planned merger of the cash-rich oil company with the debt-laden Vedanta Ltd.

Cairn India shareholders on Monday approved merger of the company with its parent Vedanta Ltd after Life Insurance Corporation (LIC) and Cairn Energy plc of UK voted in favour of the sweetened merger ratio.

Shareholders and creditors of mining major Vedanta Ltd have approved the proposal of its merger with its cash-rich arm Cairn India.

Shares of Vedanta Limited jumped as much as 3.55 per cent today to hit fresh 52-week high of Rs 180.80. But shares of Vedanta group company Cairn India fell as much as 0.83 per cent to hit intraday low of Rs 201.30.

Mining conglomerate Vedanta Resources on Tuesday said its shareholders have approved the merger of group firms Vedanta Ltd and Cairn India.

A long-pending merger between Cairn India and parent Vedanta Resources on Wednesday found support from proxy advisory firm IiAS, which said the combined entity will benefit from a diversified product mix.

Vedanta Ltd's chief executive said the diversified Indian miner received "constructive feedback" from minority shareholders in Cairn India Ltd to a sweetened buyout offer, and was hopeful it can clinch the long-delayed deal.

Mining giant Vedanta will hold a meeting of its creditors on September 8 in Goa to seek their approval for the merger of Cairn India with it under a revised all-share deal.

Cairn India has called a shareholders' meeting on September 12 to seek approval for the company's takeover by its parent Vedanta Ltd under a revised all-share deal.

Mining and energy group Vedanta Resources expects to complete its merger with Cairn India early next year, a move that would boost the firm's financial strength, Vedanta's CEO said.

Mining mogul Anil Agarwal on Monday said the merger of his group's cash-rich oil firm Cairn India with its parent, Vedanta Ltd, is likely to be completed by year end to create India's largest diversified natural resources company.

Vedanta Ltd will benefit from improved cash flow fungibility, given its high debt and significant short-term borrowings, according to S&P.

In July last year, Vedanta had sweetened its merger proposal to win over minority shareholders.

The approvals include transfer of stake of Cairn India in fields like the Rajasthan oilfield and Ravva oil and gas fields in Krishna Godavari basin to Vedanta Ltd.

Last month, Cairn India shareholders approved merger of the company after LIC and Cairn Energy PLC of the UK voted in favour of the sweetened merger ratio.

Rating agencies S&P and Moody's have upgraded Vedanta Resources after Cairn India shareholders cleared the planned merger of the cash-rich oil company with the debt-laden Vedanta Ltd.

Cairn India shareholders on Monday approved merger of the company with its parent Vedanta Ltd after Life Insurance Corporation (LIC) and Cairn Energy plc of UK voted in favour of the sweetened merger ratio.

Shareholders and creditors of mining major Vedanta Ltd have approved the proposal of its merger with its cash-rich arm Cairn India.

Shares of Vedanta Limited jumped as much as 3.55 per cent today to hit fresh 52-week high of Rs 180.80. But shares of Vedanta group company Cairn India fell as much as 0.83 per cent to hit intraday low of Rs 201.30.

Mining conglomerate Vedanta Resources on Tuesday said its shareholders have approved the merger of group firms Vedanta Ltd and Cairn India.

A long-pending merger between Cairn India and parent Vedanta Resources on Wednesday found support from proxy advisory firm IiAS, which said the combined entity will benefit from a diversified product mix.

Vedanta Ltd's chief executive said the diversified Indian miner received "constructive feedback" from minority shareholders in Cairn India Ltd to a sweetened buyout offer, and was hopeful it can clinch the long-delayed deal.

Mining giant Vedanta will hold a meeting of its creditors on September 8 in Goa to seek their approval for the merger of Cairn India with it under a revised all-share deal.

Cairn India has called a shareholders' meeting on September 12 to seek approval for the company's takeover by its parent Vedanta Ltd under a revised all-share deal.

Mining and energy group Vedanta Resources expects to complete its merger with Cairn India early next year, a move that would boost the firm's financial strength, Vedanta's CEO said.

Mining mogul Anil Agarwal on Monday said the merger of his group's cash-rich oil firm Cairn India with its parent, Vedanta Ltd, is likely to be completed by year end to create India's largest diversified natural resources company.