RR Phantom
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| Subject: Short platinum, lol: Glencore to spin off stake in platinum producer Lonmin Wed Feb 11, 2015 10:30 pm | |
| Mining and commodities giant Glencore on Wednesday announced plans to unload its 23.9 percent stake in South African platinum producer Lonmin and distribute the shares to its own shareholders.
Lonmin, which is listed on the London Stock Exchange, is valued at a total of more than £1.0 billion ($1.5 billion, 1.3 billion euros).
Glencore, which inherited the platinum producer when it swallowed up Xstrata two years ago, said it had decided to spin off its Lonmin stake which did not match its core assets.
https://au.finance.yahoo.com/news/glencore-spin-off-stake-platinum-010018192.html |
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