Glencore seals the deal on Mopnai sale
Glencore’s subsidiary Carlisa Investments has signed an agreement to conclude the sale of Mopani Copper Mines in Zambia to ZCCM Investments Holdings for US$1.5 billion.
Carlisa Investments, in which Glencore holds 81.2% of the shares, has signed an agreement with ZCCM to transfer its 90% interest in Mopani to ZCCM. The sale is expected to be completed within the next three months, once ZCCM shareholders and the board of directors approve and after certain regulatory approvals in Zambia are received.
On completion, US$1.5 billion of debt will remain owed by Mopani to Glencore group creditors on the following terms: