1 MONGOLIA-CHINA AGREE TO COLLABORATE IN INCREASING MEAT EXPORT WWW.MONTSAME.MN PUBLISHED:2018/09/21      2 U.S. AND MONGOLIA SEEK TO STRENGTHEN ECONOMIC RELATIONSHIP WWW.STRTRADE.COM PUBLISHED:2018/09/21      3 MONGOLIA, U.S. LEADERS DISCUSS BILATERAL TIES WWW.XINHUANET.COM PUBLISHED:2018/09/21      4 BELT AND ROAD SIGNIFICANT TO MONGOLIA, PEOPLE AROUND WORLD -- ACADEMIC WWW.ENG.YIDAIYILU.GOV.CN PUBLISHED:2018/09/21      5 PETRO MATAD UPDATES MONGOLIA EXPLORATION WWW.OGJ.COM PUBLISHED:2018/09/21      6 RIO TINTO’S EXIT FROM COAL PAYS OFF, TO RETURN $3.2B FROM SALES PROCEEDS TO SHAREHOLDERS WWW.MINING.COM PUBLISHED:2018/09/21      7 OPENING CEREMONY OF SAINSHAND SALKHIN PARK HELD WWW.MONTSAME.MN PUBLISHED:2018/09/21      8 ALIBABA’S MA SAYS TRUMP’S TRADE WAR ‘DESTROYED’ HIS PROMISE TO CREATE JOBS FOR 1MN AMERICANS WWW.RT.COM  PUBLISHED:2018/09/21      9 LEGAL DISPUTE OVER EMC OWNERSHIP COMES TO AN END WWW.ZGM.MN PUBLISHED:2018/09/20      10 ERDENES TAVAN TOLGOI REVENUE SURGES DUE TO HIGHER COAL PRICES WWW.NEWS.MN PUBLISHED:2018/09/20      УЛСЫН ХЭМЖЭЭНД 85.3 МЯНГАН ТОНН ТӨМС ХУРААН АВААД БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/09/21     ЗГ: БУЦАЛТГҮЙ ТУСЛАМЖИЙГ УСНЫ НӨӨЦИЙГ САЙЖРУУЛАХ, ХЭРЭГЛЭСЭН УСЫГ БУЦААН АШИГЛАХАД ЗАРЦУУЛНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/21     ҮСХ: УЛААНБААТАРТ АЖИЛЛАГЧДЫН САРЫН ДУНДАЖ ЦАЛИН УЛСЫН ДУНДЖААС 121.7 МЯНГАН ТӨГРӨГӨӨР ИХ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/21     МОНГОЛ УЛСЫН ИХ ХУРАЛ, ЕВРОПЫН ПАРЛАМЕНТ ХООРОНДЫН XII УУЛЗАЛТААР ХАМТАРСАН МЭДЭГДЭЛ ГАРГАЛАА WWW.DNN.MN НИЙТЭЛСЭН:2018/09/21     ТӨРИЙН АЛБАНЫ УДИРДАХ АЖИЛТНЫ УЛСЫН ЗӨВЛӨГӨӨН БОЛЖ БАЙНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/09/21     2019 ОНЫГ МОНГОЛ, АМЕРИКИЙН ЗАЛУУЧУУДЫН ЖИЛ БОЛГОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2018/09/21     УУРХАЙЧДЫН АЖЛЫН БАЙР НЭМЭГДЭЖ, ЦАЛИН ӨСЧ БАЙНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/09/20     “ЭРДЭНЭТ”-ИЙН 49 ХУВИЙН ӨМЧЛӨЛ ТОЙРСОН ХУУЛЬ ЗҮЙН МАРГААН ЭЦЭС БОЛЛОО WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/20     СЗХ-НД МӨНГӨ УГААХТАЙ ТЭМЦЭХ НЭГЖИЙГ БАЙГУУЛАХААР БОЛЛОО WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/09/20     БНХАУ: ОЛОН ТАЛТ, ЧӨЛӨӨТ ХУДАЛДААГ ДЭМЖИЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/20    

Indian billionaire Agarwal to be Anglo American’s top shareholder www.mining.com

Indian billionaire Anil Agarwal is planning to increase its investment in Anglo American (LON:AAL) 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, who is the founder and chairman of Vedanta (LON:VED), India’s largest mining company.

The move could give Agarwal a commanding voice at Anglo American, the world's fifth-largest miner by market value, which the businessman described earlier this year as “a great company with excellent assets and a strong board and management team who are executing a focused strategy.”

Volcan, Agarwal’s family trust, said it would acquire an additional £1.25bn to £1.5bn worth of Anglo shares, which would make the Indian tycoon the miner's biggest shareholder.
The investment comes on top of the 12.43% stake he’s built since March, when Volcan boosted its holding in Anglo American..

While some interpret today’s announcement as the beginning of an Anglo takeover, Agarwal has repeatedly said he doesn’t intend to take control of the company. A dubious statement, as the Indian tycoon already approached the London-listed miner last year with an offer to merge with Hindustan Zinc, a mining firm he controls through Vedanta.

But Anglo stopped the approach in its tracks saying a deal didn’t make sense and wasn’t feasible.

The planned investment is a major vote of confidence in Anglo American, which has staged an impressive turnaround since commodity prices began climbing last year. In February, the firm logged a profit of $1.6 billion for 2016, its first annual revenue in five years.

“We are encouraged by the performance of Anglo American since our original investment earlier this year,” Agarwal said in the statement. “The company has made good progress in its operational and financial performance and remains an attractive investment for our family trust,” he added.

In a separate statement, Vedanta confirmed the proposed investment, noting it has nothing to do with the planned acquisition of shares, which is “being made by Volcan alone” with the assistance of JPMorgan.

Anglo American appointed in June a new chairman, Stuart Chambers, who will take over Sir John Parker in November. Chambers, 61 and former chairman of UK chip designer Arm, is known for his active participation in the sale of several UK companies, including the one where he was chairman until 2016, as he oversaw the sale of Arm to Japan’s Softbank.



Published Date:2017-09-21