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PETRONAS International is a Malaysia-based wholly-owned subsidiary of integrated oil and gas company PETRONAS, while Cairn Energy is a UK-based oil and gas exploration and production company.
With this acquisition, PICL has increased its stake to 14.94% in Cairn India.
In a separate transaction, PICL has also acquired a 10% stake in six oil exploration blocks from Cairn Energy PLC for $70 million.
N M Rothschild & Sons Limited is acting as financial advisor to Cairn Energy on this transaction.
Deal Value (US$ Million) 240 Deal Type Acquisition Sub-Category Minority Acquisition Deal Status Completed: 2009-10-14
Deal Participants
Target (Company) Cairn India Limited Acquirer (Company) PETRONAS International Corporation Ltd. Vendor (Company) Cairn Energy PLC
% Acquisition 2.3%
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