Xstrata Coal South America acquires Glencore Intl AG-Prodeco Bus from Glencore International AG
Xstrata Coal South America, a unit of Xstrata PLC (XP), acquired the Prodeco business of Glencore International AG (GI), a Baar- based wholesaler of metals and non-ferrous minerals, for COp 4.695 tril (USD 2 bil) in cash. The transaction included GI's high-grade thermal coal mining operations and associated infrastructure. XP agreed to grant GI a call option to repurchase the Prodeco business at any time up to business day following the first anniversary of the closing date. The transaction had been subject to regulatory and shareholder approval.
Mar 3, 2009
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