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Anil Agarwal to take Vedanta private in Rs 16,000 crore cash offer

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MUMBAI: Metals and mining magnate Anil Agarwal plans to offer Rs 16,200 crore in cash to take the Mumbai-listed Vedanta Ltd private, the Indian agency said on Tuesday. Vedanta Sources, the London-based outfit which Agarwal delisted in 2018, is offering Rs 87.5 for a share of Vedanta Ltd to minority shareholders of the BSE/ NSE-traded agency. 
The offer worth is at a 2% low value to Vedanta Ltd’s Tuesday closing worth of Rs 89.30 on the BSE nonetheless represents a 10% premium to the stock’s last shopping for and promoting worth on Monday. Vedanta Sources, along with completely different corporations, holds 50.14% of Vedanta Ltd, whereas public shareholders private the remaining 49.86%. Agarwal, who started as a scrap vendor and now has a web value of $three billion in accordance to Forbes, has been simplifying the corporate building of his enterprise and the delisting of Vedanta Ltd is part of that effort.

Taking the company private is the “subsequent logical step” in the simplification course of and might current additional operational and financial flexibility in a capital-intensive enterprise, said Vedanta Sources. Beforehand, Agarwal merged Sterlite with Sesa Goa to sort Vedanta Ltd in 2012, 4 years later he folded Cairn India into Vedanta Ltd, after which in 2018 delisted Vedanta Sources’s shares from shopping for and promoting on the London Stock Change. 
The delisting proposal of Vedanta Ltd comes amid the coronavirus pandemic that has depressed stock markets and clouded the demand for metals globally. 
“Due to the affect of Covid-19 pandemic, we now have accelerated the simplification approach in this tough setting to assure assist for vital deleveraging and to enable us to proceed to make investments in the growth of the enterprise,” said Vedanta Group chairman Anil Agarwal. 
The delisting transaction will rework the credit score rating profile of Vedanta Sources, which holds 36.8% in the India unit, and might assist an accelerated debt low cost programme in the medium time interval, added Agarwal. The delisting offer will current public shareholders of Vedanta Ltd an opportunity to realise fast and positive value for his or her shares at a time of elevated market volatility, the company said. 
If Agarwal had gone for the delisting of Vedanta Ltd in early January, then he would have had to pay about Rs 6,500 crore higher than what he’s paying now as stock has fallen 40% from its extreme.

Manvendra Chaudhary, with over 5 years of professional experience as CEO of Unique News and Megalent Marketing, shares insights on life, business, and health for your success.

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Net Worth

Alan Patricof Net Worth 2024: How Much is the American Investor Worth?

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Alan Patricof Net Worth 2024: How Much is the American Investor Worth?

Who is Alan Patricof?

Alan Patricof is a prominent figure in the American investment landscape, renowned for his contributions to venture capital. With a career spanning over four decades, Patricof has been instrumental in shaping the growth of numerous global companies, including America Online, Apple Computer, and Audible. His legacy extends beyond business, with involvement in community organizations and government initiatives.

Alan Patricof Career

Alan Patricof’s career in venture capital began in the industry’s early days. He founded Patricof & Co. Ventures Inc., a precursor to Apax Partners, one of the world’s leading private equity firms. Later, he established Greycroft Partners, focusing on early and expansion-stage investments in digital media. Throughout his career, Patricof’s vision and leadership have played a pivotal role in advancing the venture capital field.

Alan Patricof’s Net Worth

As of May 3, 2024, Alan Patricof’s estimated net worth stands at over $1 million. His wealth is derived from various investments, including holdings in Boston Properties Inc. and successful ventures in digital media. Despite humble beginnings, Patricof’s entrepreneurial spirit and strategic acumen have propelled him to financial success.

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Alan Patricof Age

Born in 1934, Alan Patricof is currently in his late eighties. Despite his advanced age, he remains active in the business world, leveraging his wealth of experience to mentor emerging entrepreneurs and drive innovation.

Alan Patricof Family: Wife and Children

Alan Patricof has been married to his wife Susan for over 48 years. Together, they have three children and seven grandchildren. Family holds great importance to Patricof, and he credits his upbringing and heritage for shaping his values and work ethic.

Alan Patricof Height and Weight

While specific details about Alan Patricof’s height and weight are not readily available, his stature in the investment community is undeniable. Patricof’s impact transcends physical measurements, as he continues to leave a lasting legacy in venture capital and philanthropy.

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Stephen M. Ross Net Worth 2024: How Much is the Chairperson of The Related Companies Worth?

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Stephen M. Ross Net Worth 2024: How Much is the Chairperson of The Related Companies Worth?

Who is Stephen M. Ross?

Stephen M. Ross, the Chairperson of The Related Companies, is a distinguished figure in the real estate sector, renowned for his significant contributions and profound impact. Born on May 10th, 1940, in Detroit, Michigan, Ross embarked on his journey into real estate at a young age, demonstrating remarkable diligence and entrepreneurial spirit. Despite initially pursuing a career as a tax attorney, Ross soon discovered his genuine passion for real estate investment, laying the foundation for his illustrious career.

Stephen M. Ross Career

Ross’s career trajectory is marked by pioneering ventures and transformative projects. In 1972, he founded The Related Companies, which initially focused on subsidized low and moderate-income apartments. Over the years, Ross transitioned to higher-profile projects, including the iconic Hudson Yards development, valued at over $7 billion. His visionary approach and strategic partnerships have cemented his reputation as a prominent figure within the real estate industry.

Stephen M. Ross Net Worth

As of 2024, according to Celebrity Net Worth, Stephen M. Ross’s net worth stands at an impressive $10 billion, solidifying his status as one of the wealthiest individuals globally. Ross’s wealth accumulation is attributed to his unparalleled success as a real estate mogul, with an estimated annual income of nearly $700 million derived from royalties on his diverse property holdings. His continued involvement in the real estate sector, with ongoing projects in New Jersey and Florida, further contributes to his substantial net worth.

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Stephen M. Ross Age

Currently, Stephen M. Ross is 83 years old, born on May 10th, 1940. Despite his age, Ross remains actively engaged in his professional pursuits, demonstrating resilience and dedication to his craft.

Stephen M. Ross Family: Wife and Children

Ross’s personal life is characterized by familial bonds and enduring relationships. He is happily married to Kara Ross and is the proud father of four children. Ross’s commitment to family values underscores his holistic approach to life and business.

Stephen M. Ross Height and Weight

Physically, Stephen M. Ross stands at a height of 6 feet 2 inches (1.88m) and maintains a healthy body weight of around 72 kg. Despite his busy schedule, Ross prioritizes his health and well-being, engaging in activities such as volleyball and tennis.

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Mike Markkula Net Worth 2024: How Much is the Former CEO of Apple Worth?

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Mike Markkula Net Worth 2024: How Much is the Former CEO of Apple Worth?

Who is Mike Markkula?

Mike Markkula, born Armas Clifford “Mike” Markkula Jr. on February 11, 1942, in Los Angeles, California, is an American entrepreneur renowned for his pivotal role in the early days of Apple Inc. After graduating from the University of Southern California with degrees in electrical engineering, Markkula amassed considerable wealth through stock options while working at Fairchild Semiconductor and Intel.

Mike Markkula Career

Markkula’s career trajectory took a significant turn in 1977 when he was introduced to Steve Jobs by Venture Capitalist Don Valentine. Recognizing the immense potential of the Apple II computer, Markkula became the company’s first major angel investor, providing $250,000 in funding. He subsequently served as Apple’s CEO from 1981 to 1983, overseeing critical phases in the company’s growth and development.

Mike Markkula’s Net Worth

As of 2024, according to Celebrity Net Worth, Mike Markkula boasts an estimated net worth of $1.2 billion. His wealth stems from astute investments, particularly in Apple Inc., where he played a foundational role as an early investor and executive.

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Mike Markkula Age

Born on February 11, 1942, Mike Markkula is currently [age] years old.

Mike Markkula Family: Wife and Children

Markkula is married to Linda, and together they have made significant real estate investments, including properties in Carmel Valley, Woodside, and Hawaii. They have engaged in philanthropy, with notable donations to Santa Clara University’s Markkula Center for Applied Ethics.

Mike Markkula Height and Weight

Unfortunately, information regarding Mike Markkula’s height and weight is not readily available.

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