The merger of Cairn India with Vedanta has been completed, the two companies controlled by billionaire Anil Agarwal, have said. "This merger consolidates Vedanta’s position as one of the world’s largest diversified natural resources companies, with world-class, low-cost assets in metals & mining and oil & gas," the companies said in a joint statement.
The merged entity will have a pro forma market cap of $15.6 billion, as per the statement. The merged company would preserve the "Cairn" brand, the two companies said. April 27 has been fixed as the record date for determining the list of the shareholders of Cairn India to whom the equity and preference shares of Vedanta will be allotted.