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Vedanta pumps Rs 1,431 cr in Anglo American, buys Volcan's stake

Last year, Volcan, that owned nearly 67 per cent in Vedanta Resources earlier, acquired 33.5 per cent of the company's stake in July

Vedanta
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FILE PHOTO: A bird flies past the logo of Vedanta installed on the facade of its headquarters in Mumbai | Photo: Reuters

Amritha Pillay Mumbai
Cairn India Holdings, a subsidiary of Vedanta, bought a stake in Anglo American from Volcan Investments, a family trust of promoter Anil Agarwal. The investment was made in the December quarter, according to Vedanta’s earnings statement released on Thursday.

“During the quarter ended December 31, 2018, as part of its cash management activities, Cairn India Holdings, a wholly owned foreign subsidiary of the company, paid II part sum of $200 million (or Rs 1,431 crore) towards purchase of an economic interest in a structured investment in Anglo American Plc from its ultimate parent, Volcan Investments,” Vedanta said in its financial results

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First Published: Jan 31 2019 | 11:11 PM IST

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