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EU regulators clear way for Glencore Xstrata tie-up
November 21, 2012 / 11:26 AM / 5 years ago

EU regulators clear way for Glencore Xstrata tie-up

LONDON, Nov 21 (Reuters) - European Union antitrust regulators are set to clear Glencore’s $32 billion takeover of miner Xstrata after the commodities trader satisfied concerns over zinc by ending a sales contract, sources familiar with the matter said.

The sources said on Wednesday that Glencore would end its zinc sales deal with producer Nyrstar but would not have to sell Xstrata’s Nordenham zinc plant in Germany.

“No assets will be sold,” one of the sources said.

Barring last minute hitches, the deal will be announced by the European Union on Thursday, the sources said.

Glencore and Xstrata declined to comment.

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