ZCCM-IH has agreed to take over Glencore’s majority stake in Mopani Copper Mines in a $1.5 billion deal funded by debt, and will look for a new investor, Mines Minister Richard Musukwa has announced.
The sale comes after Glencore last year tried to suspend operations at Mopani due to low copper prices and COVID-19 disruptions, angering the government, which threatened to revoke the company’s mining licenses.
At a ceremony in Lusaka, Mr. Musukwa said the country will try to attract a new investor in Mopani, adding that “several entities” from Britain, Canada, China, Turkey, and Qatar have expressed interest.
Glencore: Carlisa Signs Contract To Sell Underlying Stake Of 73% In Mopani
BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Glencore (GLCNF.PK, GLNCY.PK, GLEN.L) said its unit Carlisa Investments has signed an agreement with ZCCM Investments Holding plc to transfer its 90% interest in Mopani Copper Mines plc to ZCCM, the owner of the remaining 10% interest in Mopani, for $1 and the transaction debt. On completion, $1.5 billion of transaction debt will remain owed by Mopani to Glencore group creditors.
Glencore plc said, after completion of the sale, the company will retain offtake rights in respect of Mopani s copper production until the transaction debt has been repaid in full.
Bulgaria s Donev Investments Holding buys shares in Doverie United Holding Author: Ken Teegardin. Licence: Creative Commons, Attribution-ShareAlike 2.0 Generic.
SOFIA (Bulgaria), December 23 (SeeNews) - Bulgarian diversified group Doverie United Holding [BUL:5DOV] said on Wednesday that Donev Investments Holding has acquired 250 shares in Doverie at a price of 3.25 levs ($2.00/1.66 euro) per share.
Donev Investments Holding acquired the shares through a single transaction on the floor of the Bulgarian Stock Exchange (BSE) on December 22, Doverie United Holding said in a bourse filing.
The CEO of Donev Investments Holding - Ivan Donev, is also a member of Doverie United Holding s supervisory board. Donev Investments Holding is the largest shareholder in drug maker Sopharma [BUL:3JR], which in turn is the largest shareholder in Doverie United Holding.