weak-commodity

Glencore sells agri unit stake for $2.5 billion to Canadian pension fund

Commodity miner and trader Glencore has agreed to sell 40 percent of its agricultural unit to Canada's state pension fund for $2.5 billion, the company's latest step to cut debt and soothe investor concerns about the impact of weak commodity prices. The sale values the agricultural unit as a whole at close to the initially expected $10 billion, including $0.6 billion in debt and $2.5 billion in inventories, and comes after Glencore…

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Glencore sells agri unit stake for $2.5 billion to Canadian pension fund