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Sovereign Wealth Funds Briefing - Categorized | Investment

Glencore talking to possible partners for Prodeco

Posted on 23 February 2010

From Reuters: Commodity trader Glencore is holding talks with four possible partners to help buy back its key Prodeco coal operations in Colombia from mining group Xstrata. Negotiations are being held with Brazil’s Vale, U.S. coal miner Alpha Natural Resources, Singapore’s sovereign wealth fund GIC and U.S. private equity fund First Reserve Corp.

Swiss-based Glencore, which declined to comment, was forced to give up the prized Prodeco operations last year when it was short of cash, but it has an option to repurchase them which expires next week……………………….Full Article: Source


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