The funds received by TSMHL will be used to service existing debt obligations at TSMHL.
Vedanta Limited has entered into an agreement with a wholly owned subsidiary, Twinstar Mauritius Holdings Limited ("TSMHL"), whereby TSMHL has transferred 4.98% of its stake in Cairn India Limited ("Cairn India") to Vedanta Limited for a cash consideration of US$315mm.
The funds received by TSMHL will be used to service existing debt obligations at TSMHL.
Vedanta Limited's ownership in Cairn India does not change as a result of this share transfer.
No comments:
Post a Comment