Cairn-Vedanta deal: Ministerial panel recommends approval of pact with conditions

The Group of Ministers (GoM), set up by central government to review and refer Vedanta Resources' $9.6 billion plan to buy Cairn Energy's Indian assets, has unanimously decided on a recommendation that the transaction be approved by the Cabinet Committee on Economic Affairs (CCEA). Oil Minister and GoM member S Jaipal Reddy disclosed this in New Delhi on Friday. However, he refused to reveal the recommendation or elaborate on the issue.