Weather New York, NY +87°F

Glencore

SWITZERLAND-COMMODITIES-COMPANY-GLENCORE

Glencore Plc signs loans to refinance credit facility

Glencore signed new loan commitments of $8.45 billion revolving credit facility. The company took on the new liabilities when it was already struggling to pay off its existing debt of $30 billion. Despite being pulled to the lowest rank in the investment grade, the Swiss commodities trader received support from its loyal lenders, which came as a surprise for some.

Read Full Article
Mining

Glencore to complete 2 deals to slash down debt

Suffering from weakening global commodities for the past one year, Glencore has informed its investors about its plans to reduce debt by $10billion. Towards this debt reduction target, Glencore is planning to conclude two deals by the end of this year or early of next year. The Anglo-Swiss multinational commodities major has been facing rough conditions in the market.

Read Full Article
Glencore Xstrata

Glencore Billionaire Willing To Pay $210 Million Bill To Help Company's Balance Sheet

Glencore's Chief Executive Officer, co-founder, and second largest shareholder Ivan Glasenberg is set to pay $210 million of the company's impending $2.5 billion sale of new shares to repair its balance sheet.

Read Full Article
China National Chemical Corporation

ChemChina to buy Italian tire maker Pirelli in $7.7 billion deal

China National Chemical Corp (ChemChina) is to buy Pirelli (PECI.MI), the world's fifth-largest tire maker, in a 7.1 billion euro ($7.7 billion) deal that will place one of the symbols of Italy's manufacturing industry in Chinese hands.

Read Full Article
German flag

Weak German output numbers send Europe into reverse

A second day of weak German data sent European markets into retreat on Tuesday with stocks, the euro and periphery euro zone government debt all knocked by the mounting evidence of an abrupt slowdown in the bloc's economic engine room.

Read Full Article
Rio Tinto

Rio Tinto rejects Glencore merger approach amid iron ore slump

Rio Tinto (RIO.AX) rejected a merger approach from smaller rival Glencore Plc (GLEN.L) to create a $160 billion mining and trading giant in August just as the price of its most profitable product, iron ore, hit a five-year low.

Read Full Article
Mining in Australi

Philippine company offers to buy Australia's Indophil Resources

Indophil Resources NL said on Tuesday Philippine-based conglomerate Alsons Group has offered to fully acquire the Australian company for $0.30 a share in an all-cash deal.

Read Full Article
Glencore-Xstrata

Glencore, Jinchuan frontrunners to buy BHP's Nickel West

Commodities trader and miner Glencore (GLEN.L) and Chinese nickel producer Jinchuan Group are the frontrunners to buy BHP Billiton's (BHP.AX)(BLT.L) Australian Nickel West division, two sources close to the situation said.

Read Full Article
London Metal Exchange

US regulator subpoenas metals warehousing companies

A US regulator subpoenaed major metal warehousing firms after an alleged restriction of material inflated prices.

Read Full Article
Glencore Xstrata

Glencore returns to cotton via US $150 million deal

Glencore Xstrata tries it hand in cotton exchange shares amounting to US $150 million.

Read Full Article
Glencore

Glencore to sell Dakota Growers Pasta

According to three sources, Glencore Xstrata Plc looked to sell its Dakota Growers Pasta Co unit after its US$6 billion purchase for Viterra.

Read Full Article
Glencore logo

Glencore Acquires 11.6% Stake in PolyMet

Glencore acquired 11.6% stake in PolyMet.

Read Full Article
Simon Murray

Simon Murray New Gulf Keystone Chairman

Gulf Keystone appointed Simon Murray as new Chairman

Read Full Article
Xstrata

Privately Backed Mine Fund to be Set

Xstrata CEO to set up private mining fund when he leaves company after Glencore takeover.

Read Full Article
image

Deals of the day -- mergers and acquisitions

Bids, mergers, acquisitions and disposals.

Read Full Article
1 2

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics