NEW DELHI: More than three weeks after theCabinet Committee on Economic Affairs gave conditional nod to the $9-billion Cairn-Vedanta deal, the oil ministry on Tuesday sent a formal letter to the companies informing of the decision.
"The letter was collected byCairn India representatives this afternoon," an oil ministry official said.
Cairn Energy, which is selling 40% out its 62.4% stake in its Indian unit to London-listed, India-focused mining groupVedanta Resources, was eagerly awaiting the formal letter so that it can quickly conclude the transaction.
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