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

Introduction

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

Highlights

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.
[Studien Infos ausblenden]

1 Table of Contents
1 Table of Contents 1
1.1 List of Tables 1
1.2 List of Figures 1
2 Sesa Goa Acquires Additional 1.5% Stake in Cairn India for $181.3m 1
2.1 Deal Overview 1
2.2 Deal in Brief 1
2.3 Background of the Deal 1
2.4 Sesa Goa Acquired Stake in Cairn India’s Assets as a Strategic Move 2
2.5 Cairn Energy is Focusing on its Exploration and Drilling in Greenland by Selling its Stake in India 3
2.6 Deal Financials and Valuations 4
3 Appendix 5
3.1 Methodology 5
3.2 Contact Us 6
3.3 Disclaimer 6
[Inhaltsverzeichnis ausblenden]

1.1 List of Tables
Table 1: Cairn India, Asset Details, 2011 4
Table 2: Companies Involved 4
Table 3: Financials of the Deal 4
Table 4: Target Information 4
Table 5: Target’s Financial Information 5
Table 6: Share Price Information 5
Table 7: Company Valuation Multiples 5
Table 8: Acquirer Information 5
1.2 List of Figures
Figure 1: Sesa Goa, Operations Map, 2011 2
Figure 2: Cairn India, Operations Map, 2011 3
[Tabellenverzeichnis ausblenden]