Edition:
India

Glencore Completes Sale Of 51 Pct Of Oil Products Storage Business


Friday, 29 Dec 2017 

Dec 29 (Reuters) - Glencore Plc ::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​.