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Glencore to sell stake in agricultural unit to CPPIB for $2.5-billion

April 07, 2016 JULIA

Glencore to sell stake in agricultural unit to CPPIB for $2.5-billion

Miner and commodity trader Glencore said it had agreed to sell a 40 per cent stake in its agricultural business to Canada Pension Plan Investment Board (CPPIB) for $2.5-billion and use the proceeds to reduce debt, which is among the highest in the sector.

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