Glencore Agri sale queried by competition regulator

Skip to:
Article

The Australian Competition and Consumer Commission (ACCC) has raised concerns over Glencore’s proposed sale of a 40% stake in Glencore Agri to Canada Pension Plan Investment Board.

The ACCC is concerned about the control CPPIB will have over the agri freight rail transport sector given a combination of the Glencore Agri stake and CPPIB’s interest in the Pacific National rail network: Pacific National controls 75% of all grain transported by rail on the east coast of Australia.

The $2.5 billion sale is an important one for Glencore if it is to meet its target of reducing debt from $18 billion to $7 billion by the end of the year. It has also agreed a sale of a 9.99% stake in Glencore Agri to the British Columbia Investment Management Corporation.

Related analytics

Transaction Name Stage Est. Value
Pertama plant/$284.31 million/0216 Financial close 284.31
First Quantum Minerals/$1.35 billion/1206 Financial close 1350.00
BP Berau/$3.745 billion/1216 Financial close 3745.00
Hesteel Hong Kong/$150 million/1116 Financing 150.00
ONGC Videsh/$1.268 billion/0516 Financial close 1268.00
No data available
More transactions

Trade Finance on Twitter