Cairn Energy Plc shareholders ask Indian govt to return $1.2 billion
Some of Cairn Energy Plc’s marquee shareholders that include BlackRock, MFS, Franklin Templeton and Fidelity have asked the Indian government to honour an arbitration award and return $1.2 billion to the British oil firm, sources said.
Cairn, which on this day seven years back was first slapped with a retrospective tax assessment, is three-fourth owned by the world’s top investors with $529 billion MFS Investment Management of the US being its largest investor with a 13.95 per cent stake.
New York-based BlackRock is the second-biggest shareholder with a 12.21 per cent stake. Other investors include Fidelity International, Franklin Templeton, Vanguard Group and Aberdeen Standard Investments, according to stock exchange data.
