Glencore backs $1.4 billion bid for 40 percent ERG stake
Glencore offers 800 million dollars to support Shakhmurat Mutalip's bid for a 40 percent stake in ERG. The deal involves future shipments of ferrochrome.
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Glencore plc is reportedly backing a $1.4 billion bid by entrepreneur Shakhmurat Mutalip to acquire a 40% stake in Eurasian Resources Group (ERG). The London-listed mining and commodities giant has proposed an $800 million upfront pre-payment to support the acquisition, according to reports from the Financial Times citing sources familiar with the matter.
