Malaysia`s Petronas and Swiss Co. Petroplus are eyeing stake in Cairn India`s parent, Cairn Energy, reports Business Standard.
Petronas, holding 10% of Cairn India through a pre-IPO placement, wants to buy out Cairn Energy`s 69% stake in Cairn India. The takeover talks pushed Cairn`s share price up 2.3%. At the current price of Rs 144.30 a share, Cairn Energy`s 69% stake will be around Rs 177 billion.
Meanwhile, a U.S, financial daily has reported that, the Swiss refiner Petroplus is planning to bid for Cairn Energy.
Source : myiris