The producer and exporter of iron ore Sesa Goa Limited, has acquired a 10.4% stake in Cairn India from Malaysia-based Petronas International Corporation Limited. The company has purchased 200 million shares of Cairn from Petronas at Rs 331 a share.
The said acquisition was in addition to the open offer to public for a 20% stake in Cairn India, launched this month. Sesa Goa Limited (Sesa Goa) is a diversified global metals and mining company. It is engaged in producing and exporting iron ore and also in producing pig iron and metallurgical coke. The company operates in two segments: iron ore and metallurgical coke.
