28th May 2015 08:41
LONDON (Alliance News) - Private equity group First Reserve Corp is to sell the remaining part of its stake in FTSE 100-listed mining and commodities company Glencore PLC, Reuters reported Wednesday.
First Reserve will sell the stake via an accelerated bookbuild at 286.76 pence per share, Reuters said, citing statements from Deutsche Bank, the bookrunner on the deal.
The sale of the stake will be valued at around GBP98.6 million, Reuters said. Glencore has a market capitalisation of GBP37.2 billion.
http://www.reuters.com/article/2015/05/27/first-reserve-glencore-secondaryissues-idUSL5N0YI4MC20150527
Glencore shares were quoted down 0.7% at 284.75p Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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