• News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

GoM On Cairn, Vedanta Deal To Meet On May 2

Photo Credit :

The Group of Ministers (GoM) to consider approval for a deal between Cairn and Vedanta Resources will meet on May 2, an oil ministry source said on Thursday.

Vedanta is seeking to take control of Cairn's India unit in a deal worth up to $9.6 billion. But the deal has been delayed due to a dispute over royalty payments by Cairn India's partner, state-run Oil and Natural Gas Corp.

Earlier this month, the matter was referred to a panel of ministers, headed by Finance Minister Pranab Mukherjee, which is expected to submit its recommendations to the cabinet for a final decision.