Glencore PLC GLENCORE COMPLETES ACQUISITION OF CERREJÓN (1093Y)
12 January 2022 - 1:00AM
UK Regulatory
TIDMGLEN
RNS Number : 1093Y
Glencore PLC
11 January 2022
Glencore plc
Baar, Switzerland
11 January 2022
GLENCORE COMPLETES ACQUISITION OF CERREJÓN
Glencore refers to its announcement of 28 June 2021 , in which
it announced its intention to acquire Anglo American's and BHP's
respective 33.3% interests in Cerrejón. Following receipt of the
relevant regulatory approvals, the transaction has been
completed.
The purchase price consideration of c.$588 million was based on
an economic effective date of 31 December 2020. After taking into
account the dividends generated by robust 2021 operating cashflows,
together with certain other adjustments, the cash payment to be
made by Glencore on completion is c.US$101 million.
Glencore's acquisition of Cerrejón is consistent with our
climate change strategy and has been factored into our stated
emission reduction targets. We are committed to reducing our total
emissions footprint by 15% by 2026, 50% by 2035 and we have an
ambition of being a net zero total emissions business by 2050.
For further information please contact:
Investors
Martin Fewings t: +41 41 709 28 80 m: +41 79 737 56 42 martin.fewings@glencore.com
Media
Charles Watenphul t: +41 41 709 24 62 m: +41 79 904 33 20 charles.watenphul@glencore.com
www.glencore.com
Glencore LEI: 2138002658CPO9NBH955
Notes for Editors
Glencore is one of the world's largest global diversified
natural resource companies and a major producer and marketer of
more than 60 responsibly-sourced commodities that advance everyday
life. The Group's operations comprise around 150 mining and
metallurgical sites and oil production assets.
With a strong footprint in over 35 countries in both established
and emerging regions for natural resources, Glencore's industrial
activities are supported by a global network of more than 30
marketing offices. Glencore's customers are industrial consumers,
such as those in the automotive, steel, power generation, battery
manufacturing and oil sectors. We also provide financing, logistics
and other services to producers and consumers of commodities.
Glencore's companies employ around 135,000 people, including
contractors.
Glencore is proud to be a member of the Voluntary Principles on
Security and Human Rights and the International Council on Mining
and Metals. We are an active participant in the Extractive
Industries Transparency Initiative. Our ambition is to be a net
zero total emissions company by 2050.
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Disclaimer
The companies in which Glencore plc directly and indirectly has
an interest are separate and distinct legal entities. In this
document, "Glencore", "Glencore group" and "Group" are used for
convenience only where references are made to Glencore plc and its
subsidiaries in general. These collective expressions are used for
ease of reference only and do not imply any other relationship
between the companies. Likewise, the words "we", "us" and "our" are
also used to refer collectively to members of the Group or to those
who work for them. These expressions are also used where no useful
purpose is served by identifying the particular company or
companies.
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