Glencore Purchases Stakes in Mutanda and Katanga

Glencore now owns 100% of Mutanda and approximately 86% of Katanga.

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. Glencore now owns 100% of Mutanda and approximately 86.33% of Katanga.

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As featured in Womp 2017 Vol 03 - www.womp-int.com