Anil Agarwal Buys Stake in ‘Anglo American’ Corp

IAS Prelims 2023

Indian billionaire Anil Agarwal has become the second largest shareholder in Anglo American after acquiring 11.44 per cent of the British mining group.

The Volcan Holdings investment company owned by Agarwal’s family now owns 11.44% of the group’s capital and voting rights.

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.