Vedanta Resources chairman urges government of India to privatise mining firms to cut down $400 billion of imports

Anil Agarwal, the billionaire metals tycoon, has told Prime Minister Narendra Modi that the Centre should privatise five mining firms including NMDC to save some of the $400 billion that India spends annually on imports. The Vedanta Resources chairman, who was one of the three industrialists invited for a pre-Budget meeting that Modi had with […]

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Vedanta says its Anglo American stake buy meets India’s criteria

Vedanta, the natural resources company controlled by Anil Agarwal said  its foreign subsidiary Cairn India Holdings’ $200 million investment in Anglo American met all governance requirements. The company, India’s largest miner and No. 1 iron ore exporter, said the deal was made on an arms-length basis in December 2018, adding it provided “significantly higher” returns compared […]

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Anil Agarwal faces shareholder resistance to $1 billion Vedanta bid

Indian billionaire Anil Agarwal faces investor resistance to his $1 billion bid to buy out minority shareholders in Vedanta Resources and take the London-listed Indian miner private. Vedanta, chaired by its 64-year-old founder Agarwal, on Monday announced that its independent board directors were prepared to back an 825 pence-a-share bid from Agarwal’s family trust, Volcan, […]

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Vedanta’s Anil Agarwal to become Anglo America’s top shareholder after $2 billion investment

Indian billionaire and chairman of the UK-based Vedanta Resources Anil Agarwal is planning to increase his investment in Anglo American by as much as 1.5 billion pounds ($2 billion), which would make him the biggest shareholder in the diversified miner. The acquisition of further shares will be done through Volcan Investments Ltd., the family trust of Agarwal, […]

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