Glencore sold 49.99 percent of agri-business

05.12.2016

Switzerland’s commodities trade has struck a deal to sell 49.99 percent of its agricultural business Glencore Agricultural Products (Glencore Agri) to British Columbia Investment Management Corp. (BCIMC) and Canada Pension Plan Investment Board (CPPIB) for USD 3.124 Bl, Glencore reports.

The decision to sell a 40% stake in Glencore Agri was made in April 2016. In June, the business share intended for sale was increased by another 9.9 percent.

UkrAgroConsult reports that Glencore is one of the world’s top traders in commodities, including energy, metals and agricultural products. The agricultural business enables Glencore to trade in grains, oilseeds, rice, sugar and cotton.

 

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