<p>London-listed Vedanta Resources planned stake acquisition in Cairn India, which was announced in August, is worth as much as USD 9.6 billion.<br /><br />Announcing the financing agreements, Vedanta in a statement said the proposed 51-60 per cent stake acquisition in Cairn India would be worth about USD 8.5 - 9.6 billion.<br />Cairn India is part of Edinburgh-based Cairn Energy.<br /><br />The bank consortium comprises Barclays Capital, Citi, Credit Suisse, Goldman Sachs, JP Morgan, Morgan Stanley, Royal Bank of Scotland and Standard Chartered, the statement said.<br /><br />As part of the deal, Vedanta Resources would acquire 31-40 per cent stake in Cairn India while Vedanta's subsidiary Sesa Goa would buy 20 per cent stake.<br /><br />"The financing announced today provides the group with funding flexibility. We are delighted to announce USD 6 billion of commitments from leading international banks...," Vedanta Chairman Anil Agarwal said.<br /><br />The proposed deal is yet to receive necessary government and regulatory approvals.<br />Vedanta was to receive shareholders' nod for the transaction by October 30 but has not yet posted a notice for a shareholders meet.<br /><br />Further, its mandatory open offer for additional 20 per cent stake in Cairn India is yet to get approval from market regulator SEBI.</p>
<p>London-listed Vedanta Resources planned stake acquisition in Cairn India, which was announced in August, is worth as much as USD 9.6 billion.<br /><br />Announcing the financing agreements, Vedanta in a statement said the proposed 51-60 per cent stake acquisition in Cairn India would be worth about USD 8.5 - 9.6 billion.<br />Cairn India is part of Edinburgh-based Cairn Energy.<br /><br />The bank consortium comprises Barclays Capital, Citi, Credit Suisse, Goldman Sachs, JP Morgan, Morgan Stanley, Royal Bank of Scotland and Standard Chartered, the statement said.<br /><br />As part of the deal, Vedanta Resources would acquire 31-40 per cent stake in Cairn India while Vedanta's subsidiary Sesa Goa would buy 20 per cent stake.<br /><br />"The financing announced today provides the group with funding flexibility. We are delighted to announce USD 6 billion of commitments from leading international banks...," Vedanta Chairman Anil Agarwal said.<br /><br />The proposed deal is yet to receive necessary government and regulatory approvals.<br />Vedanta was to receive shareholders' nod for the transaction by October 30 but has not yet posted a notice for a shareholders meet.<br /><br />Further, its mandatory open offer for additional 20 per cent stake in Cairn India is yet to get approval from market regulator SEBI.</p>