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Glencore pushes Xstrata merger completion back a month
December 10, 2012 / 2:10 PM / 5 years ago

Glencore pushes Xstrata merger completion back a month

The logo of Glencore is pictured in front of the company's headquarters in the Swiss town of Baar, November 13, 2012. REUTERS/Michael Buholzer

LONDON (Reuters) - Lengthy antitrust regulatory processes in China and South Africa have forced commodities trader Glencore (GLEN.L) to delay the date for completion of its tie-up with miner Xstrata XTA.L until the end of January.

South Africa’s competition authorities have postponed hearings on the $33 billion deal until January 18, after the parties asked for more time to prepare.

Glencore said on Monday its “long stop date” was now January 31, a month later than previously planned.

Glencore is still awaiting a green light from antitrust authorities in China and South Africa, having already received a conditional approval from European regulators.

Reporting by Clara Ferreira-Marques; Editing by Kate Kelland

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