Glencore sells further agri unit stake to bcIMC for $625 mln: Reuters
Swiss commodity trader and miner Glencore has agreed to sell a 9.99 percent stake in its agricultural business to British Columbia Investment Management Corp (bcIMC) for US$624.9 million in cash, as it continues a push to sell up to US$5 billion worth of assets this year to help cut debt, Reuters reported. The deal follows the company's sale of a 40 percent stake in Glencore Agri to Canada Pension Plan Investment Board for US$2.5 billion in April, and will leave Glencore with just over a 50 percent stake in the business, with existing management to stay.
9 June 2016•2 mins read
