Glencore to lift stake in Kazzinc above two-thirds -UPDATE

Commodities trader Glencore International has trimmed back its proposed purchase of Verny Capital's stake in Kazzinc, the Kazakhstan zinc producer. As well, it has lowered the cash component of the transaction.

Commodities trader Glencore International has trimmed back its proposed purchase of Verny Capital's stake in Kazzinc, the Kazakhstan zinc producer. As well, it has lowered the cash component of the transaction.

The deal has been brewing since April of last year, when Glencore, which already has a 50.7% stake in Kazzinc, said it had conditionally agreed up to 48.73% of the zinc producer from Verny.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.