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Sesa Goa Acquires Additional 1.5% Stake in Cairn India for $181.3m - Sesa Goa Acquired to Have an Access to India's Best Oil Assets

  • ID: 2060462
  • January 2012
  • Region: India
  • 6 pages
  • GlobalData

Sesa Goa Acquires Additional 1.5% Stake in Cairn India for $181.3m - Sesa Goa Acquired to Have an Access to India’s Best Oil Assets - Deal Analysis from GlobalData

Summary

Sesa Goa Limited (Sesa Goa), a producer and exporter of iron ore, acquired an additional 28,807,241 shares, representing approximately 1.5% of the total paid up share capital of Cairn India Limited, (Cairn India) an oil and gas company, for a purchase consideration of INR9,362.35m ($181.31m) in a stock market transaction. Sesa Goa paid at an average price of INR325 ($6.29) per Cairn India share. Of the total shares acquired, 4,500,000 Cairn shares were acquired through Sesa Resources Limited, a wholly-owned subsidiary of Sesa Goa.

Following the acquisition, Sesa Goa now holds a 20% stake in Cairn India. Prior to this, Sesa Goa acquired a 10.4% stake in Cairn India, with an option to acquire up to 20% shares of Cairn India, in an open offer on April 19, 2011. Also, on April 30, 2011, Sesa Goa acquired approximately 8.1% of Cairn India shares in an open offer.

Scope

- Rationale behind Sesa Goa acquiring additional stake in Cairn India,
- Strategic benefits for the companies involved,
- Geography covered - India

Reasons to buy

- Develop a sound understanding of the major M&A's, Partnerships, and Joint Ventures taking place in Asian-Pacific industry,
- Identify the most lucrative segments to leverage on the growth oppurtunities available in the India's oil & gas market,
- Get a detailed analysis of a deal to enable you to take better decisions.

Keywords

Sesa Goa, Cairn India, Vedanta

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1

1.1 List of Tables
1.2 List of Figures
2 Sesa Goa Acquires Additional 1.5% Stake in Cairn India for $181.3m
2.1 Deal Overview
2.2 Deal in Brief
2.3 Background of the Deal
2.4 Sesa Goa Acquired Stake in Cairn India’s Assets as a Strategic Move
2.5 Cairn Energy is Focusing on its Exploration and Drilling in Greenland by Selling its Stake in India
2.6 Deal Financials and Valuations
3 Appendix
3.1 Methodology
3.2 Contact Us
3.3 Disclaimer

1.1 List of Tables
Table 1: Cairn India, Asset Details, 2011
Table 2: Companies Involved
Table 3: Financials of the Deal
Table 4: Target Information
Table 5: Target’s Financial Information
Table 6: Share Price Information
Table 7: Company Valuation Multiples
Table 8: Acquirer Information

1.2 List of Figures
Figure 1: Sesa Goa, Operations Map, 2011
Figure 2: Cairn India, Operations Map, 2011

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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