Saturday 3 December 2016

Glencore to sell stake in agri business for €2.2bn

Published 06/04/2016 | 08:41

Glencore's billionaire chief executive Ivan Glasenburg was turned down by Rio Tinto in August. REUTERS/Michael Buholzer/Files
Glencore's billionaire chief executive Ivan Glasenburg was turned down by Rio Tinto in August. REUTERS/Michael Buholzer/Files

Global miner Glencore said it had agreed to sell a 40pc stake in its agricultural business to Canada Pension Plan Investment Board (CPPIB) for $2.5 billion (€2.2bn).

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Glencore said it expects the deal to close during the second half of 2016 and that it will use the proceeds to reduce debt.

Reuters

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