Commodities sector mogul Anil Agarwal is planning to partner with London based Centricus Asset Management Limited with plans to invest a sum of $10 billion targeted at government's ambitious privatisation bids, reports Business Standard.
Agarwal is teaming up with Centricus, which oversees $28 billion in assets, with the intention to seek investments in Indian companies which offer substantial growth opportunities. The combine is now seeking to raise capital from international investors to deploy in such turnaround opportunities. The duo is said to be looking at creating a 10-year life span fund for the purpose.
With a net worth of $2.5 billion as per Bloomberg Billionaires Index, Anil Agarwal has a history of turning around government-owned companies. He has made a fortune by buying state-owned companies and building a metal and mining behemoth under the umbrella of Vedanta Resources Limited.
Agarwal led Vedanta is also pursuing the privatisation of the government stake in the $12 billion refinery Bharat Petroleum Corporation Limited (BPCL). He plans to transform the company into a professionally managed private sector company. The Government is looking to complete the disinvestment of its stake in BPCL in the ongoing fiscal itself.
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