Glencore acquires remaining 31% stake in Mutanda, 10.25% in Katanga from Fleurette

Glencore has purchased the remaining 31% stake in Mutanda Mining, alongside an approximated 10.25% stake in Katanga Mining, both in the Democratic Republic of Congo (DRC), from subsidiaries of Fleurette Properties for a total cash consideration of $960 million.

The cash consideration for the shares in Mutanda is $922 million, and for the Katanga shares, $38 million, Glencore said on Monday February 13. The acquisition gives Glencore a 100% stake in Mutanda, and approximately 86.33% of the shares in Katanga. Loans owed totalling $556 million to Glencore by Fleurette...

Published

Charlotte Radford

February 13, 2017

18:01 GMT

London