December 29, 2017 / 9:29 AM / 6 months ago

BRIEF-Glencore Completes Sale Of 51 Pct Of Oil Products Storage Business

* GLENCORE - ‍COMPLETED SALE OF A 51 PCT INTEREST IN HG STORAGE INTERNATIONAL TO HNA INNOVATION FINANCE GROUP CO

* GLENCORE - ‍CO AND HNA ENTERED INTO SECOND AGREEMENT PURSUANT TO WHICH 3 OF ORIGINAL TRANSACTION ASSETS LOCATED IN USA WILL BE TRANSFERRED INTO HGSI IN 2018

* GLENCORE - ‍OF ORIGINAL PURCHASE PRICE OF $775M, $579M IS ATTRIBUTABLE TO DEC. 29 CLOSING, WITH BALANCE PAYABLE UPON CLOSING OF SECOND AGREEMENT​ Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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