Glencore sells down further agri unit stake for $625m

June 8, 2016

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Glencore has agreed to sell a 9.99% stake in its agricultural business to British Columbia Investment Management Corp for $624.9-million, as it continues a push to sell up to $5-billion worth of assets this year to help cut debt. Glencore Agri would also take on $3.6-billion in debt currently funded by Glencore, the Swiss-based mining and trading firm said, helping to pare debt on Glencore’s books. The debt would be financed without recourse to Glencore.

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