Qatar PM mulls Glencore stake February 28, 2011 Qatar’s sovereign wealth fund is looking at taking a stake in Glencore during its $60bn (£37.3bn) initial public offering, the Qatari Prime Minister said yesterday. Sheikh Hamad bin Jassim bin Jabr al-Thani said at a conference that he has a meeting planned with Glencore bosses in the next two days.
Glencore hires eight banks to handle its IPO February 27, 2011 COMMODITIES giant Glencore has taken on five additional banks to help it prepare for its possible float, sources yesterday told City A.M. Swiss-based Glencore now has eight banks working on its IPO plan, which analysts have said will value the firm at up to $60bn (£37.3bn). While Glencore has not officially confirmed that it will [...]
Commodities merger falls apart February 15, 2011 Merger talks between top flight commodity group Louis Dreyfus and smaller Singaporean rival Olam have failed, reviving speculation about the strategy of Dreyfus. Talks with Olam were announced in September last year and Dreyfus has been reported to have held merger talks with other rivals, including Swiss-based Glencore. A merger would have created a firm [...]
Analysts say Glencore could be worth $60bn January 26, 2011 GLENCORE, the world’s biggest commodities trader, has enjoyed a surge in value and is now worth some $60bn (£38bn) as it contemplates an initial public offering (IPO), according to leading team of mining analysts. That value placed on it by Liberum Capital would place it among the 15 biggest FTSE-listed companies if it were to [...]
HOW WE LED THE WAY ON GLENCORE January 26, 2011 “Hong Kong is expected to grab a share of the action in Glencore’s initial public offering.” City A.M. 17th December 2010 “Glencore plans a dual listing of its shares in Hong Kong and London” WSJ.com 25th January 2011
Hayward in talks to join Glencore board January 23, 2011 FORMER BP chief executive Tony Hayward is in early talks about joining the board of commodities trader Glencore as part of its planned initial public offering, it emerged yesterday. Hayward, who is a non-executive director for Russian oil venture TNK-BP, recently met with Glencore chief executive Ivan Glassenberg to discuss taking a non-executive role, according [...]
UK listing for Severstal gold mining group January 17, 2011 RUSSIAN steel company Severstal yesterday announced plans to float its Nord Gold unit in London to raise more than $1bn (£629m). It values the company at over $4bn. The premium listing of at least 25 per cent of the gold miner is set to be the biggest mining float since Nate Rothschild’s $1bn offering of [...]
Xstrata eyes Colombia deal January 9, 2011 MINING giant Xstrata is the front-runner in an auction worth around £5bn for Colombia’s second biggest coal miner. Alabama-based Drummond put its Colombian coal mining operations up for auction last summer, attracting interest from Xstrata as well as Rio Tinto, Vale, Glencore and mining investment vehicle Vallar. However, auction-runner Bank of America Merrill Lynch (BAML) [...]
London to lose out in £30bn mega-float December 16, 2010 THE Hong Kong Stock Exchange is mounting an aggressive bid to lure away part of a float that looked set to be the biggest in London’s history. Glencore International, the world’s biggest commodities trader and a mining giant valued at £30bn, is planning an initial public offering (IPO) that could generate fees of up to [...]
Xstrata to shake up board December 14, 2010 WILLY Strothotte, the chairman of Glencore and FTSE 100-listed miner Xstrata, is due to leave his post at Xstrata in the coming year as part of a board-room changeover. Strothotte has been at the helm of Xstrata since it floated in London in 2002, and several other non-executive directors have been on the board for [...]