Minmetals Said to Be Near Deal to Buy Glencore’s Bambas Mine
A group led by China Minmetals Corp. is nearing an agreement to purchase Glencore Xstrata Plc (GLEN)’s Las Bambas copper project in Peru for more than $5 billion, according to people with knowledge of the matter.
A deal between Minmetals, China’s biggest state-owned metals trader, and Glencore could be announced as early as this month subject to Chinese government approval, said the people, who asked not to be identified as the process is private. The asset could fetch closer to $6 billion, one of the people said.
Read more at: http://www.businessweek.com/news/2014-02-06/minmetals-said-to-be-near-deal-to-buy-glencore-s-las-bambas-mine
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