Last Updated :
19 October 2009 at 14:40 IST
Petronas buys 2.3 % more stake in Cairn India
NEW DELHI (Commodity Online) : Malaysian oil giant Petronas has bought 2.3 per cent stake in Cairn India for $240 million to raise its holding in the company.
Petronas International Corp, which held 239.83 million shares, or 12.64 per cent, in Cairn, will buy 43.6 million additional shares from Cairn UK Holdings Ltd - the parent firm of Cairn India, the company said in a statement here.
After the buyout, Petronas' holding in Cairn India will rise to 14.94 per cent.
The company has also agreed to sell a 10 per cent interest in six of its operated blocks off the cost of Greenland to Petronas.
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