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Anil Agarwal to delist Vedanta Resources from LSE, offers $1-bn buyout

The move is to simplify the corporate structure of Vedanta and its subsidiaries, the mining giant said

Anil Agarwal, vedanta
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Executive Chairman and Vedanta Group founder Anil Agarwal

Agencies
Mining mogul Anil Agarwal plans to delist his flagship firm Vedanta Resources Plc from the London Stock Exchange (LSE) after buying out 33.5 per cent of non-promoter shareholders for about $1 billion. 

Agarwal's Volcan Investments Ltd, which currently holds 66.53 per cent of Vedanta, made a cash offer for 825 pence a share, a 14 per cent premium to company's three-month volume weighted average price.

Vedanta Resources in a statement said it will recommend acceptance of the offer by the shareholders, who would also be entitled to a previously announced dividend of $0.41 per share.

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First Published: Jul 02 2018 | 3:06 PM IST

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