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Bharat Vasandani Madhavan N. & Hari... Urvish Dave

Market & Company Research Store > Details

Year: 2012

Contents: 6 pages

Country: India

Sector: Upstream, Midstream and Downstream (Energy)
Sesa Goa Acquires Additional 1.5% Stake in Cairn India for $181.3m - Sesa Goa Acquired to Have an Access to India’s Best Oil Assets - Deal Analysis from GlobalData

Summary

Sesa Goa Limited (Sesa Goa), a producer and exporter of iron ore, acquired an additional 28,807,241 shares, representing approximately 1.5% of the total paid up share capital of Cairn India Limited, (Cairn India) an oil and gas company, for a purchase consideration of INR9,362.35m ($181.31m) in a stock market transaction. Sesa Goa paid at an average price of INR325 ($6.29) per Cairn India share. Of the total shares acquired, 4,500,000 Cairn shares were acquired through Sesa Resources Limited, a wholly-owned subsidiary of Sesa Goa.

Following the acquisition, Sesa Goa now holds a 20% stake in Cairn India. Prior to this, Sesa Goa acquired a 10.4% stake in Cairn India, with an option to acquire up to 20% shares of Cairn India, in an open offer on April 19, 2011. Also, on April 30, 2011, Sesa Goa acquired approximately 8.1% of Cairn India shares in an open offer.

Scope

- Rationale behind Sesa Goa acquiring additional stake in Cairn India,
- Strategic benefits for the companies involved,
- Geography covered - India

Reasons to buy

- Develop a sound understanding of the major M&A's, Partnerships, and Joint Ventures taking place in Asian-Pacific industry,
- Identify the most lucrative segments to leverage on the growth oppurtunities available in the India's oil & gas market,
- Get a detailed analysis of a deal to enable you to take better decisions.
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