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December 24, 2012

Optimum Coal: Glencore has 14% stake

Filed under: Uncategorized — sbmzhcn @ 8:40 pm

South Africa’s Optimum Coal saisecondary processing of goldd on Monday that a unit of Glencore , the world’s largest commodity trader, had bought a 14.1 percent stake in it.

The announcement comes after Optimum, South Africa’s sixth-largest coal producer, confirmed on Friday that it had received takeover approaches. “… a consortium comprising Piruto B.V., a wholly-owned subsidiary of Glencore International AG, had as at the close of business on Friday, 26 August 2011, acquired ordinary shares and as a result now holds a beneficial interest of 14.1 percent in Optimum Coal,” Optimum said in a statement. Sources close to the deal said late on Thursday that the Swiss-based trader plans to…

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