Cairn Energy raises $928 million from Cairn India block

The second sell-down by London-listed Cairn Energy in three months reduces its stake in the Indian oil and gas explorer to 10.3%.

Cairn Energy raises $928 million from Cairn India block
Cairn Energy's Mangela processing terminal

Cairn Energy yesterday raised Rs49.31 billion $928 million from the sale of an 8% stake in Cairn India the second sell-down in its Indian oil and gas exploration and production unit in three months.

The sale was expected as Cairn Energy, which is Edinburgh-based but listed in London, obtained an approval from its shareholders to dispose of its entire remaining stake at the annual general meeting in May. And after a couple of strong days...

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