Glencore backstops C$7.6B rights offering as it increases shareholdings in Katanga Mining

Date Closed

December 19, 2019

Lead Office

Toronto

Value

7.60 Billion CAD

On December 19, 2019, Glencore International AG backstopped a previously announced C$7.6 billion rights offering with Katanga Mining Limited.

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities. The Group's operations comprise around 150 mining and metallurgical sites and oil production assets.

Katanga Mining Limited operates a major mine complex in the Democratic Republic of Congo producing refined copper and cobalt. Katanga is listed on the Toronto Stock Exchange.

McCarthy Tétrault LLP advised Glencore with a team led by Adam Taylor that included Roger Taplin, Rene Sorrell, Etienne Ravilet Guzman, Eric Frydrych, Joanna Nairn and Tyler Hawley (Business), Robert Nearing (Tax) and DJ Lynde (Financial Services). 

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