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March 15, 2017updated 01 Jul 2020 12:57pm

Glencore signs deal to sell two zinc properties in Africa for $400m

Glencore has entered a definitive agreement to sell an 80% interest in the Rosh Pinah mine in Namibia and a 90% share of Perkoa mine in Burkina Faso, to Trevali Mining.

Glencore has entered a definitive agreement to sell an 80% interest in the Rosh Pinah mine in Namibia and a 90% share of Perkoa mine in Burkina Faso, to Trevali Mining.

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Under the agreement, Trevali Mining will pay $400m as aggregate consideration for this acquisition.

Trevali will provide $244m in cash, while the remaining $156m will be paid by issuing 175,125,304 shares. Furthermore, the company has agreed to pay an additional $30m to Glencore to repay an existing debt facility.

The acquisition is expected to increase Trevali’s geographic footprint and access to global capital markets. It also increases Glencore’s direct ownership in Trevali from 4% to 25%.

Glencore zinc marketing head Daniel Mate said: “We are pleased to strengthen our partnership with Trevali as they embark on the development of the premier zinc company in the market.

“Trevali will improve its annual zinc production to around 230,000t.”

“Trevali has a proven track record in the sector demonstrated by the success in opening up the Santander mine in Peru and the Caribou mine in Canada.

“We have been working together as partners since their first mine was built and we share the same vision for the future growth of the business through value-creating organic and inorganic growth opportunities.”

The deal is subject to customary regulatory approvals and is expected to complete by July this year.

After completion, Trevali will gain two African projects to its portfolio of zinc assets. Glencore will have the offtake from all four of Trevali’s mines.

Trevali will improve its annual zinc production to around 230,000t and have operational presence in three continents, namely North America, South America and Africa.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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