Miner Vedanta Resources is close to finalising a deal to buy a majority stake in Cairn Energy's Indian unit, Cairn India, sources close to the matter said on Friday.
Vedanta is set to buy a 51-per cent stake in the Indian unit from Edinburgh-based Cairn Energy for between $8 billion and $8.5 billion, one of the sources said, representing a premium of around 20 per cent to Cairn India's closing price on Thursday.
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The deal is expected to be announced on Monday, the source said.
Cairn Energy and Vedanta declined to comment.
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