(Bloomberg) Anil Agarwal is cementing his influence over Anglo American Plc. The resources magnate is set to become the largest shareholder in the mining giant after investing up to 1.5 billion pounds ($1.8 billion) in a cleverly structured deal. His aims remain unclear. That’s becoming increasingly unhelpful for the company.
The latest move lifts Agarwal’s stake from 12.4 percent to about 20 percent. That ought to move the Anglo share price sharply higher. But Agarwal, who’s chairman of Indian-based miner Vedanta Resources Plc, has been cunning in minimizing the price impact from such a hefty trade.