Anil Agarwal eyes $10 billion of India turnaround deals
Commodities tycoon Anil Agarwal is planning to invest $10 billion through a new partnership targeting government privatisations in India.
The billionaire is teaming up with London-based Centricus Asset Management Ltd. to seek investments in Indian companies offering substantial growth opportunities, according to a statement Thursday. They will look to turn around companies being sold off as part of the country’s Rs 2.1 lakh crore ($29 billion) divestment program.
Agarwal made a fortune buying state companies and fixing them up, building a metals and mining powerhouse under the umbrella of Vedanta Resources Ltd. He’s now seeking to repeat that success, betting he can spot gems among the dozens of companies being put on the block by Prime Minister Narendra Modi’s administration.
