Petronas sells Cairn stake for $2.1 billion

Malaysia's state energy firm Petronas said Tuesday it had sold its near 15-percent stake in Cairn India for $2.1 billion, with a media report saying British company Vedanta was the buyer. "The transaction brings to a close a successful association as a shareholder with Cairn India since 2006," oil and gas explorer Petronas said in a statement, without specifying the purchaser.
India's CNBC-TV 18 channel had earlier reported that most of the stake was sold to resources giant Vedanta, which aims to take control of the Indian energy explorer. CNBC said the share sale would have raised around $2 billion for Petronas.