RPT-BRIEF-Vedanta to buy 51-60 pct of Cairn India for $8.5-9.6 b

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LONDON, Aug 16 (BestGrowthStock) – Vedanta Resources PLC (VED.L: ):
* To acquire 51% to 60% of Cairn India Limited
* Consideration of approximately US$8.5-9.6 billion in cash
* Vedanta Resources plc will hold 31-40% of Cairn India directly
* Sesa goa ltd will hold 20%
* Transaction to be funded through debt and cash resources
* Immediately EPS accretive
* Proposed transaction is expected to close by the first
quarter of 2011

RPT-BRIEF-Vedanta to buy 51-60 pct of Cairn India for $8.5-9.6 b