- Published: Wednesday, 15 February 2017 19:08
- Written by E&MJ News
Glencore has purchased the Fleurette group’s remaining 31% stake in Mutanda Mining Sarl for $922 million and a 10.25% stake in Katanga Mining Ltd. for $38 million. Fleurette and its affiliates owe outstanding loans to the Glencore group over the Mutanda shares, amounting to $556 million, of which $120 million comprises accrued interest. In addition, Glencore has acquired shareholder loans owed to the Fleurette group by Mutanda Mining Sarl of $130 million. Accordingly, the aggregate cash consideration payable by the Glencore group is $534 million.