Glencore Seeks to Grow via Acquisitions

Mining and commodities trading group Glencore Plc would prefer to grow its business through acquisitions rather than greenfield investment, its chief executive said on Wednesday.

 

Addressing an annual general meeting in Cham, Switzerland, CEO Ivan Glasenberg also said there was "no reason to go into any new commodities," adding he hoped the company's agricultural business "will get bigger in the future".

 

Glencore said on Tuesday it had made an informal approach to U.S. grains trader Bunge Ltd to discuss "a possible consensual business combination." Bunge said it was not in talks with Glencore.


(Reporting by Justin George Varghese; Editing by Mark Potter)