Glencore has agreed with Off The Shelf to acquire 75% of Chevron South Africa , and the entire issued share capital of miner Glencore for at least $500 . The payment will be made in cash from Glencore ’s own resources, with the energy trader investing at least $500 m over more than a century . The Chevron South Africa assets include manufacturing, retail and industrial supply businesses in Botswana and Botswana and provide an attractive downstream opportunity for Glencore .
Glencore has agreed with Off The Shelf to acquire 75% of Chevron South Africa, and the entire issued share capital of Chevron Botswana for $973m. The payment will be made in cash from Glencore’s own resources, with the energy trader investing at least $500m over next 12 months. The Chevron assets include manufacturing, retail and industrial supply businesses in South Africa and Botswana and provide an attractive downstream opportunity for Glencore.