Struggling Glencore to shed more assets

Struggling Glencore to shed more assets

As it struggles to convince investors and creditors that it remains a solvent business, beleaguered commodity trading giant Glencore may now raise around US$10bn from asset sales.

According to Acquisitions Daily, after Glencore’s shares lost 30% of their value on September 28 – following publication of a report from Investec Securities that suggested its equity would be worthless if metal prices remained at current levels – the company insisted that it remained “operationally and financially robust”.

While this rebuttal saw the Glencore share price recover by 17% to just over 80p, it remains…