Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Glencore says would prefer to grow business through acquisitions

Published 2017-05-24, 06:21 a/m
© Reuters.  Glencore says would prefer to grow business through acquisitions
GLEN
-

May 24 (Reuters) - Mining and commodities trading group Glencore Plc GLEN.L would prefer to grow its business through acquisitions rather than greenfield investment, its chief executive said on Wednesday.

Addressing an annual general meeting in Cham, Switzerland, CEO Ivan Glasenberg also said there was "no reason to go into any new commodities," adding he hoped the company's agricultural business "will get bigger in the future".

Glencore said on Tuesday it had made an informal approach to U.S. grains trader Bunge Ltd BG.N to discuss "a possible consensual business combination." Bunge said it was not in talks with Glencore.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.