OREANDA-NEWS. April 19, 2011. Sesa Goa announces that it has acquired 200 million shares amounting to 10.4% stake in Cairn India from Petronas International Corporation Ltd ("Petronas") at a price of Rs. 331 per share. The acquisition is in addition to the Open Offer launched by Sesa Goa on Monday, April 11, 2011 and the Open Offer will continue as per the Letter of Offer dated April 11, 2011.

Sesa is India's largest producer and exporter of iron ore in the private sector. The company is a majority owned and controlled subsidiary of Vedanta Resources plc, the London listed FTSE 100 diversified metals and mining major. For over five decades, Sesa has been involved in iron ore mining, beneficiation and exports. Over the last two decades, it has diversified into the manufacture of pig iron and metallurgical coke. Sesa has mining operations in Goa and Karnataka while it also operates a 280,000 TPY metallurgical coke plant and a 250,000 TPY pig iron plant in Goa. The Company acquired the shares of Sesa Resources Limited (erstwhile VSD), which in turn holds 100% equity shares of Sesa Mining Corp. Ltd (erstwhile DMC) during FY '10.