5th Apr 2016 17:35
LONDON (Alliance News) - Miner and commodities trading house Glencore PLC is holding advanced talks to sell a stake in its agricultural arm to Canada Pension Plan Investment Board, The Wall Street Journal reported.
People familiar with the matter told the paper the Canadian pension fund is close to buying a 40% stake in Glencore's agricultural business in a deal which would value the entire division at around USD6.0 billion.
The sources said a deal could be announced as early as this week, though cautioned there is no certainty an agreement will be reached.
http://www.wsj.com/articles/glencore-in-advanced-talks-to-sell-stake-in-agriculture-unit-to-canada-pension-plan-investment-board-1459870692
By Sam Unsted; [email protected]; @SamUAtAlliance
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