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BREAKING NEWS

Anil Agarwal's Volcan to sell about 2% stake in Anglo American

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(Reuters) – Billionaire Anil Agarwal’s Volcan Holdings Plc has offered to sell about a 1.9% stake in Anglo American Plc <AAL.L>, one of the bookrunners handling the sale said on Thursday.

Volcan is to sell about 24.7 million shares in the mining group via an accelerated bookbuild, the bookrunner said. The stake is worth about 540.2 million pounds, based on Anglo American’s closing price on Thursday.

Volcan is Anglo American’s biggest shareholder with 19.3% shareholding, according to Refinitiv data.

(Reporting by Justin George Varghese in Bengaluru. Editing by Jane Merriman)

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