Vedanta buys Cairn India stake

Vedanta Resources has completed the purchase of a 10 per cent stake in the Indian arm of Cairn Energy, in a deal valued at around $6bn (£3.77bn). The move comes after Cairn Energy agreed last week to sell a 40 per cent stake in Cairn India to Vedanta. The sale, one of the largest in India's energy sector, has been delayed for more than 10 months due to a disagreement over royalty payments.

Following the transaction, Cairn now owns 52.2 per cent of Cairn India. The Vedanta group now holds an aggregate 28.5 per cent stake in Cairn India.