Glencore sells parts of oil storage to HNA in $775 million dealStaff Writer | December 29, 2017
Glencore has partly completed the sale of a 51 percent stake in its storage and logistics businesses to a unit of China’s HNA Group, although transfer of some assets is pending U.S. clearance.
Acquisition Swiss-based trading and mining giant
The commodities trader said on that $579 million of the deal had closed.
It added that three assets located in the United States would be transferred to HNA in 2018 upon receiving clearance from the Committee on Foreign Investment in the United States (CFIUS), which reviews national security implications of foreign investments in U.S. firms or operations. ■