https://www.engineeringnews.co.za

Katanga now a wholly owned Glencore subsidiary

4th June 2020

By: Creamer Media Reporter

     

Font size: - +

Democratic Republic Congo-focused Katanga Mining is now wholly-owned, directly or indirectly, by multicommodities trader and miner Glencore, having completed the going-private transaction announced in April.

The company has applied to the Toronto exchange to delist its common shares.

Shareholders on June 2 approved the amalgamation with 836074 Yukon, in terms of which shareholders, other than Glencore International AG (GIAG), were entitled to receive C$0.16 in cash for each pre-amalgamation common share of the company, for an aggregate consideration of C$52-million.

Katanga previously explained that Glencore would take the business private, owing to a lack of a meaningful public float and limited trading liquidity, the costs of a stock exchange listing, the current commodity price risks, the ongoing operational risks, the financial risks and the lack of sources of financing without support from GIAG.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Vikela Aluvin (Pty) Ltd
Vikela Aluvin (Pty) Ltd

Complete range of security sealing solutions including security seals bags and labels.

VISIT SHOWROOM 
Sulzer Pumps (SA) (Pty) Ltd
Sulzer Pumps (SA) (Pty) Ltd

Sulzer South Africa, established in 1922, partners with critical industries like power, oil & gas, water, mining, and chemicals to boost...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.096 1.957s - 140pq - 2rq
Subscribe Now