Friday 24 November 2017

Glencore to sell stake in agri business for €2.2bn

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).

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

Promoted Links

Business Newsletter

Read the leading stories from the world of Business.

Promoted Links

Also in Business