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Announced

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

Synopsis

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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