Glencore sells agri-unit stake for $2.5 bln to CPPIB: Reuters
Swiss commodity miner and trader Glencore has agreed to sell 40 percent of its agricultural unit to Canada Pension Plan Investment Board for US$2.5 billion, the company's latest step to cut debt and soothe investor concerns about the impact of weak commodity prices, Reuters reported. The sale values the agricultural unit as a whole at close to the initially expected US$10 billion, including debt and inventories. Glencore expects the deal to close in the second half of 2016.
6 April 2016•2 mins read
