India approval for Cairn-Vedanta deal in atleast a month

Regulatory approval for London-based Vedanta Resources' deal to buy a controlling stake in Cairn India, a unit of the UK's Cairn Energy, will take at least a month, the oil secretary said on Thursday.

Vedanta, in its first move into the energy sector, is buying a controlling stake in India's No. 4 oil and gas company from Cairn Energy to capitalise on rising energy demand, economic growth and an expanding population.

Vedanta Resources has offered 405 rupees a share for between 40 and 51% of Cairn India. The final stake bought would depend on the response to an open offer for a 20% stake made to minority shareholders at 355 rupees a share. That offer opens on October 11.