Glencore and consortium eye $1bn deal September 1, 2011 SOUTH AFRICA’S Optimum Coal has confirmed a consortium including a unit of commodity trading giant Glencore and prominent local politician-turned-tycoon Cyril Ramaphosa was interested in buying it for about $1bn (£618m). This would be Glencore’s most significant purchase since its record share listing, when it sacrificed its fiercely protected privacy to gain the balance sheet firepower [...]
It ain’t over until Ivan Glasenberg sings February 2, 2012 IT ain’t over till Ivan Glasenberg sings. Everyone knows the rationale for the deal: massive scale, a raft of cost-saving synergies, and a much-improved presence for Glencore in commodity markets. Indeed one of the main reasons the famously secretive Glencore went public was so it could bag Xstrata, whose other shareholders were cold on a [...]
FTSE down as Greek deal delayed February 6, 2012 The FTSE 100 dipped 0.2 per cent on Monday after doubtssurfaced about Glencore’s potential merger with Xstrata and banks waned in the absence of a debt deal for Greece. The FTSE 100 index ended down 8.87 points at 5,892.20, remaining near six-month highs after strong U.S. jobs data boosted appetite for cyclical stocks. It had [...]
Glencore bids for Australian nickel miner August 24, 2011 SWISS mining giant Glencore has launched a A$268m (£171.5m) bid to gain outright control of one of Australia’s largest nickel miners, Minara Resources, in a move that marks its second acquisition since its flotation in May. The global commodities trader said yesterday it is offering A$0.87 in cash for Minara shares, of which it already [...]
Glencore bids for Australian nickel miner August 24, 2011 SWISS mining giant Glencore has launched a A$268m (£171.5m) bid to gain outright control of one of Australia’s largest nickel miners, Minara Resources, in a move that marks its second acquisition since its flotation in May. The global commodities trader said yesterday it is offering A$0.87 in cash for Minara shares, of which it already [...]
Glenstrata: a company to reckon with February 2, 2012 THE “merger of equals” of Glencore and Xstrata will create a corporate titan worth an estimated £50bn. The firms are headquartered within 3km of each other in Switzerland, and have been the subject of speculation over a possible tie-up for months. A merger would mean a combined workforce of 127,500 with revenue of $175.5bn (£110.9bn). [...]
FTSE edges up as Lloyds gains May 1, 2012 The FTSE 100 clawed back some lost ground in early trading with Lloyds among the top gainers after quarterly results that matched forecasts. London’s blue-chip index ended April in negative territory yesterday – its second consecutive monthly loss – as concerns rose over Spain’s economy and political tensions in Europe took their toll. Meanwhile UK [...]
Xstrata in $500m deal to expand coking coal March 8, 2012 MINER Xstrata, which has agreed to a merger with trader Glencore, expanded its coking coal operations in Canada’s British Columbia yesterday with the $500m (£316.6m) purchase of assets from oil explorer Talisman Energy. Xstrata has been building its presence in the Peace River coalfield, in northern British Columbia, since acquiring First Coal last August. The [...]
Goldman M&A stalwart retires February 23, 2012 GOLDMAN Sachs M&A banker Luca Ferrari, an adviser to mining group Xstrata on its potential mega-merger with Glencore, is retiring after 12 years with the firm, according to a company memo. Ferrari is currently responsible for the northern European mergers and acquisitions business and became a partner in 2006. Prior to Goldman, he spent nine [...]
advisers vodafone and Cable & Wireless worldwide April 23, 2012 UBS Vodafone has put its long-standing team at UBS, headed by global co-head of investment banking Simon Warshaw, on the case to guide it through its acquisition of CWW. Oxford-educated Warshaw joined the Swiss bank in 1986 and has under his belt the former positions of head of EMEA investment banking, joint head of UK [...]