Vedanta Secures $6B In Financing For Cairn Deal

Law360, New York (November 19, 2010, 4:20 PM EST) -- British mining giant Vedanta Resources PLC said Friday it had entered into a $6 billion financing deal with a consortium of banks to help back its plans to pay up to $9.6 billion to acquire a controlling stake in Cairn India Ltd.

The bank consortium includes Barclays Capital, Citigroup Inc., Credit Suisse Group AG, Goldman Sachs & Co., JPMorgan Chase & Co., Morgan Stanley, The Royal Bank of Scotland and Standard Chartered Bank, Vedanta said in a statement.

The financing arrangements are made up of four...
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