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Glencore acquired Chevron's operations in South Africa and Botswana for $973m.

Financials

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Transaction Value£726m
Consideration TypeCash
Capital Owned-
Capital Bid For75%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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midstream assets

oil & gas company

Acquisition

Botswana

Integrated Oil and Gas

Private

South Africa

Synopsis

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Glencore, a British–Swiss multinational commodity trading and mining company, acquired Chevron's operations in South Africa and Botswana for $973m. Glencore believes that the acquired operations provide an attractive downstream opportunity for its oil business. The acquisition will include undertakings as to retention of the local management team and workforce.

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