CAIRN Energy is due to raise around $1 billion (£620 million) by selling down more of its holding in the successful Indian business it developed.
Edinburgh-based Cairn Energy has appointed Citigroup investment bank to sell an 8% holding in Cairn India for up to $940m, according to a source in India.
A spokesman for Cairn Energy declined to comment on the reported sale, which would leave the company with a 10.3% stake in a business that it used to control.
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