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Indian billionaire Agarwal to buy bigger stake in Anglo American
September 20, 2017 / 4:27 PM / in 3 months

Indian billionaire Agarwal to buy bigger stake in Anglo American

LONDON, Sept 20 (Reuters) - Volcan Investments, the family trust of diversified miner Vedanta on Thursday said it was increasing its stake in Anglo American.

In a statement it said it was increasing its stake by acquiring shares worth between 1.25 billion ($1.69 billion) and 1.5 billion pounds, in addition to the 2 billion pounds spent in March on acquiring a 12.43 percent holding.

The additional shares could take the stake up to 20 percent, a banking source who declined to be named said.

Anglo American declined to comment. ($1 = 0.7375 pounds) (Reporting by Barbara Lewis and Clara Denina)

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