Glencore to take Congo subsidiary Katanga Mining private
Reuters
Published Apr 22, 2020 15:02
Updated Apr 22, 2020 15:55
JOHANNESBURG (Reuters) - Glencore (L:GLEN) is taking its Toronto-listed Congo unit Katanga Mining (TO:KAT) private, the subsidiary said on Wednesday.
" Katanga Mining Limited ... has entered into a definitive agreement with Glencore International pursuant to which the company would be taken private by way of an amalgamation of the company with 836074 Yukon Inc.," Katanga said in a statement.
Katanga shareholders other than Glencore will receive 0.16 Canadian dollars in cash per share - a 100% premium to the closing price on Tuesday, the statement said.
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Written By: Reuters
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