Glencore agrees to sell further stake in Agri unit for US$624.9m
[MELBOURNE] Glencore said on Thursday it has agreed to sell a 9.99 per cent stake in its agricultural business to British Columbia Investment Management Corp for US$624.9 million, as it continues a push to cut debt.
The deal follows the company's sale of a 40 per cent stake in Glencore Agri to Canada Pension Plan Investment Board for US$2.5 billion in April, and will leave Glencore with a 50.01 per cent stake, with the business to be run by the existing management team.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
India's Vedanta misses Q4 profit estimates on lower prices
BHP targets Anglo American in bid valuing miner at US$39 billion
China's Sinopec charts global expansion with refinery in rival India's backyard
Gold trades in tight range as market focuses on US economic data
Oil settles lower as US business activity cools, concerns over Middle East ease
Orsted says Taiwan wind project to power TSMC on track for 2025 finish