AvanStrate Inc. is a liquid crystal display glass substrate maker in which Carlyle Group Lp holds a majority stake. Mumbai: Cairn India Holdings Ltd, a unit of metals and mining firm Vedanta Resources Plc, has acquired a controlling equity stake in Japanese company AvanStrate Inc. for $158 million, Vedanta said on Wednesday. AvanStrate Inc. is a liquid crystal display glass substrate maker in which Carlyle Group Lp holds a majority stake. Cairn also extended a $7 million loan to AvanStrate,” Vedanta Resources said in a press statement. Vedanta Resources said the transaction will provide Cairn with strategic control and attractive returns.

Source: Mint December 27, 2017 19:18 UTC