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Glencore offloads $2.5 billion agri stake

Glencore said it would sell a 40%-stake in its agricultural business for US$2.5 billion to the Canada Pension Plan Investment Board (CPPIB) .

Glencore offloads $2.5 billion agri stake Glencore offloads $2.5 billion agri stake Glencore offloads $2.5 billion agri stake Glencore offloads $2.5 billion agri stake Glencore offloads $2.5 billion agri stake

The equity in Glencore Agri was valued at more than $6 billion based on the deal with CPPIB

The move is part of Glencore’s debt-reduction strategy outlined last year when it launched a $2.5 billion rights issue to deleverage its balance sheet.