Key Developments: Glencore PLC (GLEN.L)

GLEN.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Glencore Xstrata plc's Singfuel Investment Pte. Ltd proposes voluntary delisting of Chemoil Energy Ltd
Tuesday, 25 Feb 2014 05:49am EST 

Glencore Xstrata plc's Singfuel Investment Pte. Ltd and Chemoil Energy Ltd:Singfuel, indirect wholly-owned subsidiary of Glencore Xstrata plc proposes to delist Chemoil from the Official List of the SGX-ST and make a cash offer (Exit Offer) to acquire all Chemoil shares (Shares) other than those already owned, controlled or agreed to be acquired by Singfuel.Exit Offer of $0.40 per Share.DBS Bank Ltd., for and on behalf of Singfuel, will make an Exit Offer to acquire all the issued ordinary Shares in Chemoil.DBS Bank Ltd. has been appointed as financial adviser to the Offeror for the Delisting and the exit offer.  Full Article

Glencore Xstrata PLC announces increase indirect equity interest in Mutanda Mining Sarl
Thursday, 19 Dec 2013 02:00am EST 

Glencore Xstrata PLC:Says it has completed the acquisition of the remaining 14.5 percent indirect equity interest in Mutanda Mining Sarl (“Mutanda”) held by High Grade Minerals S.A. for a total cash consideration of $430 million.  Full Article

Glencore Xstrata PLC Announces Secondary Listing On JSE
Wednesday, 13 Nov 2013 02:00am EST 

Glencore Xstrata PLC announced that its ordinary shares will start trading on the main board of the JSE Limited (the JSE) from November 13, 2013.  Full Article

Glencore Xstrata PLC To Sell Papua New Guinea Copper Project To PanAust Ltd-Reuters
Friday, 1 Nov 2013 08:47am EDT 

Reuters reported that Glencore Xstrata PLC has agreed to sell its majority stake in an undeveloped copper mine in Papua New Guinea for $125 million to Panaust Ltd. PanAust has agreed to pay Glencore $75 million in two stages initially and up to $50 million more, based on a 2% net smelter return royalty, once the development is completed.  Full Article

Glencore Xstrata PLC To List In Johannesburg On November 13 - Reuters
Thursday, 31 Oct 2013 09:12am EDT 

Reuters reported that Glencore Xstrata PLC will list on the Johannesburg stock exchange on November 13, the mining and trading group said, after receiving regulatory approvals. Glencore said last month that it was seeking a extra listing in South Africa, in addition to the London Stock Exchange and a secondary listing in Hong Kong.  Full Article

China's Minmetals Submits First-Round Bid For Glencore Xstrata PLC's Las Bambas Mine-Reuters
Thursday, 3 Oct 2013 02:13pm EDT 

Reuters reported that China's Minmetals has submitted a first-round bid for Glencore-Xstrata PLC's Las Bambas copper mine in Peru.  Full Article

Glencore Xstrata PLC To Close Nickel Mine-Reuters
Wednesday, 2 Oct 2013 07:38pm EDT 

Reuters reported that Glencore Xstrata PLC is suspending operations at its Falcondo nickel mine in the Dominican Republic due to falling nickel prices. Wednesday's announcement came a day after legislators created a national park on the outskirts of the mine, although the Company said its decision was not related to environmental pressures. A spokesman for the Switzerland-based company said the mine will be shuttered temporarily for up to three years resulting in the loss of up to 1,000 jobs.  Full Article

Glencore Xstrata PLC Seen Unlikely To Bid For OZ Minerals Ltd-Reuters
Sunday, 29 Sep 2013 10:42pm EDT 

Reuters reported that Glencore Xstrata PLC is unlikely to pounce on OZ Minerals Ltd, a banker who knows both companies well said on Monday, playing down a report in a British newspaper that said Glencore was weighing a GBP750 million ($1.2 billion) takeover offer. The Mail on Sunday reported that Glencore had acquired up to a 10% stake in OZ Minerals, citing City sources, and said OZ Minerals had appointed UBS as a defence adviser. OZ Minerals said on Monday it had received no proposal nor any substantial shareholder notice from Glencore. Under Australian rules, any investor directly holding at least 5% of a stock must disclose their ownership.  Full Article

Glencore Xstrata PLC Announces Sale Of Dakota Growers Pasta To Post Holdings
Monday, 16 Sep 2013 09:27am EDT 

Glencore Xstrata plc announced that it has entered into an agreement to sell the Dakota Growers Pasta Company (Dakota Growers) to Post Holdings, Inc (Post) for $370 million in cash to be paid at the time of closing. Dakota Growers was acquired by Glencore as part of its acquisition of Viterra Inc. The sale of Dakota Growers is subject to the satisfaction of customary closing conditions, including regulatory approvals. The sale is expected to close in January 2014.  Full Article

Glencore Xstrata PLC Sale Of Viterra Farm Outlets To Agrium Receives Canadian Regulatory Nod-Reuters
Thursday, 5 Sep 2013 06:02pm EDT 

Reuters reported that Canadian regulators have approved Glencore Xstrata PLC's sale of some Viterra farm retail stores to Canadian fertilizer company Agrium Inc. Agrium chemicals and seed, will get 210 stores across Western Canada from Glencore in the deal approved by Canada's Competition Bureau, Agrium said.  Full Article


Glencore denies media claim it avoided Australia taxes

SYDNEY - Glencore, one of the world's biggest mining and trading houses, on Friday denied claims by an Australian newspaper that its coal division had paid no taxes in Australia in the past three years on income of A$15 billion ($14.10 billion).

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