South African regulator clears merger between Glencore and Xstrata

The South African Competition Tribunal has cleared the recommended all-share merger of equals between Glencore and Xstrata, both companies confirmed on Tuesday morning.

Completion of the merger remains conditional upon the receipt of the outstanding regulatory approval in China and completion of the Xstrata court process as further set out in the New Scheme Document in connection with the merger published by Xstrata on October 25th 2012 and Glencore giving effect to the commitments required by the European Commission.

The companies announced last week that they had extended long-stop date for their merger until March 15th.

The news follows a similar announcement on December 10th when both companies announced the extension of the long-stop date would move from December 31st to January 31st.

MF