Glencore Plc agreed to sell just-under a 10 percent stake in its agriculture unit to Canada’s British Columbia Investment Management Corp. for $624.9 million in cash as it continues to cut debt.
The Canada Pension Plan Investment Board is in advanced talks to buy a stake in Miner and commodity trader Glencore Plc's agricultural business, which has farming operations covering 270,000ha in Argentina, Australia, Kazakhstan, Russia and the Ukraine.
Debt-burdened Glencore has entered early discussions with a number of sovereign wealth funds and commodities traders as it moves to offload the more than 30,000ha of cropping land across NSW, Victoria and South Australia.
Corporate control of Australia’s farmland is beginning to ruffle feathers among some of the country’s primary producers.
The world's largest commodities trader Glencore International AG is evaluating a bid for KS Oils, a leading Indian edible oil firm that has recently been acquiring farmland in Indonesia
The focus of Aabar on farming investments comes as Gulf nations, including Abu Dhabi, plan billions of dollars of investments in global food supply and infrastructure as they guard against price shocks and supply shortages in core resources.
Des sociétés basées en Suisse possèdent et gèrent des surfaces considérables dans les pays en développement
The world's largest commodities trader and major farmland owner is issuing a stock sale, and critics say the firm causes spikes in food prices.
Glencore has an 8.7% share of the "addressable" global grain trade and farming operations covering 270,000ha in Argentina, Australia, Kazakhstan, Russia and the Ukraine.
Glencore's agricultural interests include 300,000 hectares of land in Australia, Kazakhstan, Paraguay, Russia and Ukraine.
China's $200 billion sovereign wealth fund has added privately-held commodities trader Glencore International AG, which also controls around 300,000 ha of farmland, to its roster of approved investment partners as it deepens its access to global raw material markets, two sources familiar with the matter told Reuters
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