Vedanta Chairman plans to invest in Anglo American Pls

Vedanta Resources Group Chairman Anil Agarwal is seeking an investment in South-African company Anglo American Plc - the parent company of De Beers, as per reports. The billionaire is seeking a stake worth up to USD 2.4 billion, as per reports. This investment is said to be a family investment with no takeover bid by Anil Agarwal. Volcan Investments Ltd, a holding company, wholly owned by the Agarwal family trust announced the intent of investing in Anglo American, reports say. Vedanta Resources in a separate filing noted that the company affirms that the ‘proposed investment is being made by Volcan alone, and that the company is not participating in Volcan's investment’ as per reports.