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BRIEF-Glencore ‍proposes to acquire stakes in Chevron South Africa, Chevron Botswana for $973 mln
October 6, 2017 / 9:42 AM / 2 months ago

BRIEF-Glencore ‍proposes to acquire stakes in Chevron South Africa, Chevron Botswana for $973 mln

Oct 6 (Reuters) - Glencore Plc

* ‍PROPOSED ACQUISITION OF SHAREHOLDINGS IN CHEVRON SOUTH AFRICA AND CHEVRON BOTSWANA​

* ‍AGGREGATE CONSIDERATION FOR DEAL IS $973 MILLION​

* ENTERED INTO AGREEMENT WITH OFF SHELF INVESTMENTS FIFTY SIX PROPRIETARY (TO ACQUIRE 75% STAKE IN CHEVRON SOUTH AFRICA)

* ‍INTENDS TO MANAGE OVERALL OIL ASSET PORTFOLIO TO ENSURE THAT NET ADDITIONAL CAPITAL INVESTMENT IS LIMITED TO LESS THAN $500M OVER NEXT 12 MNTHS​

* ENTERED INTO AGREEMENT WITH OFF SHELF INVESTMENTS FIFTY SIX PROPRIETARY (TO ACQUIRE ENTIRE ISSUED SHARE CAPITAL OF CHEVRON BOTSWANA Source text for Eikon: Further company coverage:

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