Indian billionaire Anil Agarwal picks up 11.44 per cent stake in British mining group Anglo American

14 April 2017, 11:30 AM
Anil Agarwal - File Photo
Anil Agarwal - File Photo

Indian billionaire Anil Agarwal who owns Volcan has become the second largest shareholder in Anglo American after picking up 11.44 per cent of the British mining group, the group said on Friday.

According to a notice posted on the London Stock Exchange, the Volcan Holdings investment company owned by Agarwal's family now owns 11.44 per cent of the group's capital and voting rights following Tuesday's share purchase.

It is now the second largest shareholder behind South Africa's Public Investment Group.

Volcan also owns mining competitor Vedanta Resources, which specialises in zinc. Agarwal last month told the FT Global Commodities Summit that he did not intend to seek a seat on Anglo-American's board.

First Published: Friday, April 14, 2017 11:23 AM
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