Vedanta Resources is seeking to raise its stake in gas and oil explorer, Cairn India, to 58.5%, The Wall Street Journal reports. Vedanta may purchase a minimum 40% stake in Cairn India from its parent Cairn Energy for about $6.8 billion, adds The Economic Times. Vedanta’s Sesa Goa unit recently bought an 8.5% stake in Cairn India worth $1.24 billion through an open offer to shareholders on April 30, 2011. Sesa Goa had previously acquired a 10.4% stake in Crain India from Malaysia’s Petroliam Nasional for $1.47 billion.
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