Home ministry clears Cairn-Vedanta deal

New Delhi: Home ministry has cleared British oil firm Cairn Energy’s $6 billion deal to sell a stake in its Indian business to Vedanta Resources in the final government approval needed, a source with direct knowledge of the matter said on Monday.

Cairn Energy has been waiting for more than a year to conclude the deal which will see miner Vedanta buy a majority stake in oil producer Cairn India.

Vedanta said in November it expected to complete the deal within this quarter.

A spokeswoman for the home ministry could not comment immediately.