Cairn Energy to reduce Cairn India stake further

Oil exploration outfit Cairn Energy is in the process of selling an 8 per cent stake in Cairn India for up to 940m dollars, a source with direct knowledge of the matter has told Reuters.

Oil exploration outfit Cairn Energy is in the process of selling an 8 per cent stake in Cairn India for up to 940m dollars, a source with direct knowledge of the matter has told Reuters.

That will be the second such deal in three months to pare holding in its former Indian unit. In June, Cairn Energy sold 3.5% of Cairn India to raise about $360m.

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