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Sovereign Wealth Funds Briefing - Categorized | Financials, Market, People

Xstrata CEO said to encourage Glencore, Qatar resolution on deal

Posted on 07 September 2012

Xstrata Plc Chief Executive Officer Mick Davis has encouraged Glencore International Plc and Qatar’s sovereign-wealth fund to work out their differences ahead of a shareholder vote on this year’s largest takeover, according to people familiar with the situation.
Davis, who stands to get as much as 28.8 million pounds ($46 million) in performance-related bonuses should the deal succeed, has been in contact with Qatar Holding LLC and commodity trader Glencore about a resolution ahead of today’s vote by shareholders in Switzerland, said the people, who declined to be identified as the discussions are private. Davis isn’t actively involved in any negotiations between Glencore and the Qatari fund, two people said………………………………………..Full Article: Source


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