Glencore gets its Hunter Valley wish

AFTER losing out to Yancoal Australia in the battle for Rio Tinto’s Coal & Allied assets, Glencore has struck a deal to acquire 49% of the business.

Glencore gets its Hunter Valley wish Glencore gets its Hunter Valley wish Glencore gets its Hunter Valley wish Glencore gets its Hunter Valley wish Glencore gets its Hunter Valley wish

Yancoal has agreed to sell Glencore 49% of the Hunter Valley operations (HVO) and form a joint venture once it has completed the buy from Rio.

Glencore will pay US$1.13 billion in cash plus a 27.