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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

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Executive Chairman and Vedanta Group founder Anil Agarwal

Last Updated : Jul 02 2018 | 3:09 PM IST

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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