Loading...
See More

Shanduka wants to buy Optimum - sources

Aug 25 2011 20:34 Reuters

Related Articles

Glencore jumps on strong metal prices

Glencore's record IPO makes muted debut

Glencore role a comeback for Hayward

 
Johannesburg - Glencore's SA black economic empowerment partner Shanduka Coal is interested in buying Optimum Coal Holdings (OCH) and a formal announcement will be made, sources close to the deal said on Thursday.

OCH shareholders confirmed they had received an offer from Shanduka.

OCH, formerly owned by BHP Billiton , will produce 13.7 million tonnes in 2011, up from 13.6 million in 2010.

Glencore is committed to long-term investment in South Africa, sources close to the deal said.

Through its own BEE partner, Shanduka, Glencore fully recognises that Optimum has a broad-based BEE ownership, is a benchmark for transformation in mining and the company would not seek to prejudice Optimum's BEE credentials if the acquisition went ahead, the sources said.
optimum coal  |  shanduka
NEXT ON FIN24X

 

Lastest Articles

Here is how to check your credit score and manage it Read More...
Top tips to save money over the festive period Read More...
These are the top 5 most fuel efficient cars in SA Read More...
What to consider when switching medical aid schemes Read More...
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...