Glencore expands into copper in Peru via deal MarketWatch
July 18th, 2011
Filed under: Mineral - Copper
LONDON -(MarketWatch)- Glencore International PLC is to buy a 70% stake in a Peruvian project, its latest acquisition since listing last month and a move that expands its portfolio in the South American country to include copper.
The company said Monday that its subsidiary Glencore International AG has conditionally agreed to acquire the majority interest in Marcobre S.A.C. from CST Mining Group Ltd. The deal, worth a cash consideration of $475 million subject to closing adjustments, is expected to close in October and is subject to a number of conditions including the completion of satisfactory due diligence by Glencore.
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