Anil Agarwal acquires over 11% shares in Anglo American

The transaction for a total of 160,685,162 shares took place on Tuesday, the London Stock Exchange (LSE) notice said.

Volcan is a holding company wholly owned by the Agarwal family trust. Photo: Official Website

Indian metals-to-mining magnate Anil Agarwal has acquired an over 11% stake in British mining company Anglo American, according to a London Stock Exchange notice.

With an 11.44 per cent stake, the London-based Indian billionaire's family-owned Volcan Holdings investment firm becomes the second largest shareholder with voting rights in the company.

The transaction for a total of 160,685,162 shares took place on Tuesday, the London Stock Exchange (LSE) notice said.

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Last month, Volcan Investments Ltd ("Volcan"), the majority shareholder of Vedanta Resources Plc, had announced that it intends to make an investment in Anglo American Plc shares of up to 2 billion pounds, according to an LSE notice dated March 15.

"This is an attractive investment for our family trust. Anglo American plc is a great company with excellent assets and a strong board and management team who are executing a focused strategy to drive shareholder value. I am delighted to become a shareholder in Anglo American plc," Agarwal had said.

Volcan is a holding company wholly owned by the Agarwal family trust and the investment has been described as a personal investment made by the family trust.

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