Companies

Cairn India Holdings encashes investment in Anglo American

Our Bureau New Delhi | Updated on July 26, 2019 Published on July 26, 2019

Cairn India Holdings Ltd (CHIL) is an overseas subsidiary of Vedanta Limited   -  Reuters

CIHL and a holding company of Anglo American have agreed to unwind, entirely, the structured investment they had entered into in December 2018

Cairn India Holdings Limited (CIHL) will be encashing the investment made in Anglo American.

CHIL is an overseas subsidiary of Vedanta Limited.

“The investment by CIHL, which was entered into as part of its cash management activities, has delivered a net gain of over $ 100 million in the 8 month period it was held. Cash proceeds from the settlement of the transaction will be paid to CIHL on August 13, 2019,” a company statement said.

CIHL and Volcan Investments Limited (the holding company of Anglo American) have agreed to unwind entirely the structured investment entered between them in December 2018.

An company statement said that this step is being done ahead of the originally envisaged schedule. CIHL will have no further economic exposure to Anglo American plc shares.

Published on July 26, 2019
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