Glencore sold a 40% stake in its Agricultural Products unit to CPPIB.

Glencore, a British–Swiss multinational commodity trading and mining company, sold a 40% stake in its Agricultural Products unit, a globally integrated grain and oilseed business, to CPPIB for $2.5bn. “This is an important day in the evolution of Glencore Agri, and we look forward to working with CPPIB to continue to build the Glencore Agri business over the long term,” said Chris Mahoney, CEO, Glencore Agri. “With the investment potential created by this partnership, and given the existing network of high-quality origination, logistics and port assets in key export regions, the business is now well-placed to take advantage of the significant opportunities that are expected to emerge across the sector in the coming years.”