Vedanta Resources Plc ’s $1.5 billion purchase of a stake in Cairn India Ltd. from Petroliam Nasional Bhd. may provide a hedge against any shortfall in take- up for a broader offer for the oil explorer, investors said.
Vedanta Resources Plc , struggling to take over Cairn India Ltd. because of approval delays, bought 10.4 percent in the explorer from Petroliam Nasional Bhd. while offering to buy stake from minority investors at a higher price.
Cairn India Ltd., which pumps crude oil from the nation’s biggest deposit on land, started its first commercial sales of natural gas from the area and activated a new oil field to revive lower-than-expected output.