Glencore to invest $21 million in Brazil's copper producer Paranapanema
Reuters
Published Jul 21, 2017 22:40
Updated Jul 21, 2017 22:50
Glencore to invest $21 million in Brazil's copper producer Paranapanema
SAO PAULO (Reuters) - Glencore PlC (L:GLEN) has signed an agreement to invest up to 66 million reais (16.16 million pounds) into Brazilian copper producer Paranapanema SA, the Brazilian firm said in a securities filing.
Paranapanema (SA:PMAM3) said the cash injection will give Glencore the right to appoint one board member and that the agreement is conditioned on Paranapanema proceeding with a reorganization plan that will include refinancing its debt with creditors.
($1 = 3.1406 reais)
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Written By: Reuters
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