Anil Agarwal joins Centricus for $10-bn fund to invest in PSU divestments

Metals and mining magnate Anil Agarwal on Friday announced teaming up with London-based firm Centricus to create a USD 10-billion fund that will invest in stake sale of public sector undertakings.

Centricus is a global investment firm.

Agarwal, who is the executive chairman of Vedanta Resources said in a tweet, "Teamed up with London-based firm Centricus to create a USD 10-billion fund that will invest in stake sale of public sector companies. We are excited with the Union Budget's strong focus on disinvestment and would like to participate in the exercise."

He further tweeted that "@Hindustan_Zinc & @Balco_India exemplify our track record of turning around companies post disinvestment without retrenching a single employee."

Vedanta Resources Ltd is a globally diversified natural resources company.