Published: May 5, 2011
Abu Dhabi fund to take 31% of trader’s share offering.
Aabar Investments, an Abu Dhabi-based fund, has announced that it is to invest US$850mn in commodities trader Glencore International.
The fund intends to increase this figure to US$1bn by investing a further US$150mn in the Swiss group’s upcoming initial public offering.
Glencore will list its shares in London and Hong Kong at the end of the month, which could value the business at US$61bn.
It has been reported that Aabar will take 31% of the shares to be placed by the group, making it the largest cornerstone investor in the offering.