NEW DELHI: Having twice "let go" the opportunity to acquire Cairn India, state-run Oil and Natural Gas Corp is unlikely to exercise its pre-emption rights to stop UK's Cairn Energy Plc from selling majority stake in its Indian arm to Vedanta Resources, a company source said.
ONGC chose not to exercise its pre-emption rights when in 2002 Cairn Energy bought out Royal Dutch Shell's stake in the prolific Rajasthan block for just USD 11 million.
ONGC may not exercise pre-emption rights in Cairn-Vedanta deal - Economic Times
ONGC chose not to exercise its pre-emption rights when in 2002 Cairn Energy bought out Royal Dutch Shell's stake in the prolific Rajasthan block for just USD 11 million.
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In 2004-05, it again let go an opportunity to acquire the company, which by then had discovered the giant Mangala oil field in the Rajasthan block, for about USD 4 billion.Oil Tanks India manufacturing facility.
ONGC may not exercise pre-emption rights in Cairn-Vedanta deal - Economic Times
