Indian billionaire Anil Agarwal buys 11.4% of miner Anglo American

The Volcan Holdings investment company owned by Agarwal’s family is now the second largest shareholder behind South Africa’s Public Investment Corp, which owns more than 13 per cent.

Created On: Apr 15, 2017 09:00 ISTModified On: Apr 15, 2017 12:02 IST

Anil Agarwal, an Indian billionaire, in the second week of April 2017 became the second largest shareholder (11.44 per cent) in a British mining group, Anglo American.

According to a notice posted on the London Stock Exchange, the Volcan Holdings investment company owned by Agarwal's family now owns 11.44% of the group's capital and voting rights following 11 April 2017 share purchase. The London Stock Exchange (LSE) notice said the transaction for a total of 160685162 shares took place.

It is now the second largest shareholder behind South Africa's Public Investment Corporation, which owns more than 13 per cent.

Agarwal's investment is believed to be worth 1.9 billion pounds (USD 2.4 billion, 2.2 billion euros).

The company's market capitalisation is around 16.4 billion pounds. Volcan also owns mining competitor Vedanta Resources, which specialises in zinc.

Anglo American plc

• The company was founded by Sir Ernest Oppenheimer in 1917 with financial backing from the American bank J.P. Morgan & Co. and £1 million raised from UK and US sources to start the gold mining company.

• It is a multinational mining company based in Johannesburg, South Africa and London, United Kingdom.

• It is the world's largest producer of platinum, with around 40% of world output.

• It is also a well-known producer of diamonds, copper, nickel, iron ore and metallurgical and thermal coal.

• The company has operations in Asia, Africa, Australasia, North America, Europe and South America.

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एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

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