Billionaire Agarwal Will Buy US$2.4 Billion Anglo American Stake
Anil Agarwal, an Indian mining billionaire, plans to buy as much as £2 billion (US$2.4 billion) of Anglo American Plc shares in the market after a merger proposal failed last year.
The full stake would equate to about 13 percent of Anglo’s stock, making Agarwal the second-largest shareholder after South Africa’s Public Investment Corp. It will give him a strong voice in the company’s strategy as the blue-chip British mining firm cements its recovery from a slump in commodity prices.
Read the full story on Bloomberg here.