Now you seem him ... Was Anil Agarwal’s Anglo foray worth it?


Now you seem him ... Was Anil Agarwal’s Anglo foray worth it?

Whatever the billionaire's reasons for buying in and suddenly cutting ties, it kept management’s focus razor sharp

Allan Seccombe

Investors in Anglo American, its management and others might well be pondering “what was that all about” after Indian billionaire Anil Agarwal unexpectedly terminated its association with the diversified mining company.

Agarwal caught Anglo and the market unawares when, through his family-owned company Volcan, he acquired a nearly 20% stake in the miner, giving him the single-largest shareholding in the company and prompting speculation about what he intended doing with it.

The most common thought was that he was pressing for some sort of deal with India’s Vedanta Resources, the company Agarwal chairs and in which he is the major shareholder. There was speculation he wanted Anglo to hive off its SA assets in a way that would benefit Vedanta...

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